Business News
Wintershall has effected a compulsory acquisition of the shares in Revus Energy ASA
Friday 19. December 2008 - Wintershall Norwegen Explorations- und Produktions-GmbH ("Wintershall"), a wholly owned subsidiary of Wintershall Holding AG, today (18 December 2008) effected a compulsory acquisition ("squeeze out") of the shares in Revus Energy ASA ("Revus") not already held by Wintershall in accordance with section 6-22(3) of the Norwegian Securities Trading Act cf. section 4-25 of the Norwegian Public Limited Companies Act.
As a result, Wintershall has become the owner of all the shares in Revus and the minority shareholders will instead of their shares receive a claim for monetary compensation.
The compensation offered in the compulsory acquisition is NOK 110 per share, equal to the price that was offered as cash settlement to the share-holders in Revus through Wintershalls voluntary offer dated 4 November 2008. Any objections to or rejection of the compensation offered must be made before 19 February 2009. Settlement of the compensation to the minority shareholders that do not object to or reject the offered compensation will take place on or about 26 February 2009.