Süd-Chemie approves squeeze-out
News flash from Germany:
At a general meeting held by Süd-Chemie AG, Munich, the transfer of all shares held by minority shareholders to the majority shareholder Clariant AG, Muttenz, Switzerland was approved in exchange for reasonable cash compensation (so-called squeeze-out) amounting to €125.26 per Süd-Chemie share. 99.68% of the share capital represented at the extraordinary general meeting voted in favor of the resolution proposed by the managing board and supervisory board of Süd-Chemie AG. The squeeze-out will become effective following entry in the register of companies responsible for Süd-Chemie.
As the majority shareholder in Süd-Chemie since April 2011, Clariant has held 98.64% of all Süd-Chemie shares since expiry of its tender offer and subsequently initiated the squeeze-out procedure in June 2011.
Munich, 22 November 2011
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