Tessenderlo Revises Valuation For Combination With Picanol

T-Reuters

07 Sep 2022

TESSENDERLO GROUP :Tessenderlo Group And Picanol Group (Picanol Nv, Euronext: Pic) Announced Their Intention To Simplify And Increase The Transparency Of The Group Structure Of Both Companies.View To Combine Tessenderlo Picanol Group Into A Single Industrial Group, With A Single Stock Exchange Listing And A Single Board Of Directors.Proposed Transaction Envisages The Contribution By The Reference Shareholders, Luc Tack And Patrick Steverlynck, Of The Picanol Group Shares That They Hold, In The Context Of A Voluntary Public Exchange Offer By Tessenderlo Group.Other Shareholders Of Picanol Group Would Also Be Offered The Option Of Becoming Direct Shareholders Of Tessenderlo Group.Tessenderlo Group And Picanol Have Mutually Agreed To Adjust The Exchange Rate From 2.43 Shares Of Tessenderlo Group For 1 Share Of Picanol To 2.36 Shares Of Tessenderlo Group For 1 Share Of Picanol.Will Formally Notify To Fsma Its Intention To Launch Voluntary, Conditional Public Offer To Exchange Picanol Group Shares For New Tessenderlo Group Shares.Exchange At Ratio Of 2.36 New Tessenderlo Group Shares For 1 Share Of Picanol..Revision Results In A Decrease In Value Of 0.2 Million Eur For Picanol Group (Excluding Shares Held In Tessenderlo Group) And An Increase With 95.6 Million Eur For Tessenderlo Group, Respectively.This Results In An Equity Value Of 830.6 Million Eur And 1,751.5 Million Eur For Picanol Group And Tessenderlo Group, Respectively.

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Transparency Of The Group Structure Of Both Companies.View To Combine Tessenderlo Picanol Group Into A Single Industrial Group, With A Single Stock Exchange Listing And A Single Board Of Directors.Proposed Transaction Envisages The Contribution By The Reference Shareholders, Luc Tack And Patrick Steverlynck, Of The Picanol Group Shares That They Hold, In The Context Of A Voluntary Public Exchange Offer By Tessenderlo Group.Other Shareholders Of Picanol Group Would Also Be Offered The Option Of Becoming Direct Shareholders Of Tessenderlo Group.Tessenderlo Group And Picanol Have Mutually Agreed To Adjust The Exchange Rate From 2.43 Shares Of Tessenderlo Group For 1 Share Of Picanol To 2.36 Shares Of Tessenderlo Group For 1 Share Of Picanol.Will Formally Notify To Fsma Its Intention To Launch Voluntary, Conditional Public Offer To Exchange Picanol Group Shares For New Tessenderlo Group Shares.Exchange At Ratio Of 2.36 New Tessenderlo Group Shares For 1 Share Of Picanol..Revision Results 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14:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>TESSENDERLO GROUP <tesb.br>:Tessenderlo Group And Picanol Group (Picanol Nv, Euronext: Pic) Announced Their Intention To Simplify And Increase The Transparency Of The Group Structure Of Both Companies.View To Combine Tessenderlo Picanol Group Into A Single Industrial Group, With A Single Stock Exchange Listing And A Single Board Of Directors.Proposed Transaction Envisages The Contribution By The Reference Shareholders, Luc Tack And Patrick Steverlynck, Of The Picanol Group Shares That They Hold, In The Context Of A Voluntary Public Exchange Offer By Tessenderlo Group.Other Shareholders Of Picanol Group Would Also Be Offered The Option Of Becoming Direct Shareholders Of Tessenderlo Group.Tessenderlo Group And Picanol Have Mutually Agreed To Adjust The Exchange Rate From 2.43 Shares Of Tessenderlo Group For 1 Share Of Picanol To 2.36 Shares Of Tessenderlo Group For 1 Share Of Picanol.Will Formally Notify To Fsma Its Intention To Launch Voluntary, Conditional Public Offer To Exchange Picanol Group Shares For New Tessenderlo Group Shares.Exchange At Ratio Of 2.36 New Tessenderlo Group Shares For 1 Share Of Picanol..Revision Results In A Decrease In Value Of 0.2 Million Eur For Picanol Group (Excluding Shares Held In Tessenderlo Group) And An Increase With 95.6 Million Eur For Tessenderlo Group, Respectively.This Results In An Equity Value Of 830.6 Million Eur And 1,751.5 Million Eur For Picanol Group And Tessenderlo Group, Respectively.</tesb.br></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://www.trkd.thomsonreuters.com","article_id":"2265961026","we_media_id":"1086160438","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2265961026","pubTimestamp":1662531880,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"T-Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1086160438","head_image":"https://static.tigerbbs.com/a113a995fbbc262262d15a5ce37e7bc5"},"summary":"TESSENDERLO GROUP :Tessenderlo Group And Picanol Group (Picanol Nv, Euronext: Pic) Announced Their 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