Allianz SE and its subsidiary Allianz Holding France SAS have confirmed that a squeeze-out will be launched on the remaining shares in AGF shares still held by minority shareholders.
The announcement follows the official recognition of the French stock market authority Autorité des Marchés Financiers (AMF) that minority shareholders held less than five percent of the shares and voting rights of AGF as a result of Allianz’ tender offer, (See IJ web site April 30).
The squeeze-out will be implemented on the basis of a price of €125 ($169.46) in cash per AGF share. This consideration, together with the 2006 AGF dividend of €4.25 ($5.76) – which is subject to approval by the AGF shareholders’ meeting this afternoon – will amount to €129.25 ($175.22), “in line with the value of the consideration received by the AGF shareholders who tendered their shares in the initial offer.”
The squeeze out remains subject to the review and prior authorization by the AMF.
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