SHV Has Extended Its Offer Period For Nutreco pending Anti-Trust Clearance From Ukraine
Offer period extended until two weeks after clearance from the competition authority of Ukraine is obtained, but not later than April 28, 2015
SHV announced that, pursuant to an exemption granted by The Netherlands Authority for the Financial Markets (\"AFM\") on February 17, 2015, the period for its offer for Nutreco is extended until two weeks after clearance from the competition authority of Ukraine has been obtained, but not later than April 28, 2015.
The Offer Period is extended because the merger clearance was not fulfilled at the close of the initial offer period. SHV is still in the process of obtaining clearance from the competition authority of Ukraine. According to a press release, the Ukrainian competition authority confirmed that the notification regarding the offer was complete on January 28 and has until 28 February 2015 to either grant clearance or initiate a phase-2 investigation. Due to the volatile situation in Ukraine, it is uncertain at which point in time the Ukrainian competition authority will take a decision. However, the competent body of the Ukrainian competition authority is expected to convene before the end of February 2015 and SHV has not been notified of any substantive concerns with regard to its notification in Ukraine.
The competition laws of Bosnia and Herzegovina allow the offeror to declare the offer unconditional before the competition authority of Bosnia and Herzegovina has granted clearance.
43,219,808 shares have been tendered for acceptance during the initial offer period, representing approximately 61.53% of the issued share capital of Nutreco, 64.37% of the issued and outstanding share capital of Nutreco, and a value of EUR 1,955,696,312. Together with the 19,470,145 shares held by an SHV affiliate, the shares tendered under the offer represent approximately 89.25% of the issued share capital of Nutreco and 93.37% of the issued and outstanding share capital of Nutreco. Shares tendered during the initial offer period may be withdrawn. Any shares tendered during the initial Offer Period and not withdrawn prior to the closing date will remain subject to the offer.