THE AMF SETS 24 AUGUST AS CLOSING DATE FOR SOLVAY’S FRIENDLY BID ON RHODIA
Aug 05, 2011
OTC Disclosure News Service
Paris la Dfense, France –
The European Commission has approved Rhodia’s acquisition by Solvay
Solvay and Rhodia announced that the European Commission has approved the acquisition of Rhodia by Solvay today. Following this approval, the French Financial Markets Authority AMF has set the closing date of the friendly public takeover bid on Wednesday 24 August 2011 (included). Solvay offers EUR 31.60 per Rhodia share and EUR 52.30 EUR for the OCEANE convertible bonds.
As all prerequisite authorizations for the offer are obtained, the execution of the offer is solely subject now to a minimum acceptance level of 50% plus one share on a fully diluted basis.
A notice with the final calendar of the Offer including the settlement date was published today by NYSE Euronext Paris. The results of the Offer will be published by the French Financial Markets Authority. The results will also be published in a common press release of Solvay and Rhodia.
The French and English versions of the Solvay prospectus, including the terms for submitting Rhodia shares to the Offer, the French and English versions of Rhodia’s memorandum in response as well as the legal, financial and accounting disclosures for Solvay and Rhodia can be viewed on the dedicated pages of the websites of Solvay (www.solvay.com/OPARhodia) and Rhodia (www.rhodia.com) respectively.
is an international industrial Group active in Chemistry. It offers a broad range of products and solutions that contribute to improving quality of life. The Group is headquartered in Brussels and employs about 14,800 people in 40 countries. In 2010, its consolidated sales amounted to EUR 7.1 billion. Solvay is listed on the NYSE Euronext stock exchange in Brussels, Belgium (NYSE Euronext: SOLB.BE – Bloomberg: SOLB.BB – Reuters: SOLBt.BR). Details are available at www.solvay.com.
, as a leading chemicals company in each of its businesses, is an international company firmly committed to sustainable development. The company focuses on operational excellence and innovation on behalf of its customers. Rhodia is organized around 11 businesses within 5 divisions supplying large companies in the automotive, electronics, perfume, healthcare, beauty products, detergent, industrial products and retail sectors. The company posted 2010 revenues of EUR 5.23 billion and currently employs some 14,000 people worldwide. Rhodia is listed on Euronext Paris. Further details are available at www.rhodia.com.
For additional information about the offer, please contact:
INDIVIDUAL SHAREHOLDERS IN FRANCE
Toll free number: 0800 272 000
Orient Capital Ltd, Institutional Investor Information Agent
David Chase Lopes: +33 1 40 67 15 76 or +44 207 776 7578
Sheryl Cuisia: +44 207 776 7584
INDIVIDUAL SHAREHOLDERS IN THE USA
Corporate Press Officer /Corporate Media Relations
ERIK DE LEYE
+ 32 2 509 72 30
+ 33 1 53 56 59 62
Head of Investor Relations
+32 2 509 72 43
MARIA ALCON HIDALGO
+33 1 53 56 64 89
This press release does not and must not be considered as an offer for Solvay to purchase Rhodia shares.
Access to the prospectus and the memorandum in response as well as all other documents with regard to the offer and participation in the offer may be covered by legal restrictions in certain jurisdictions. The offer is exclusively made in France and USA, and shall not be made to persons directly or indirectly subject to such restrictions. Non-compliance with such restrictions represents a breach of applicable financial market laws and regulations in some jurisdictions. Solvay cannot accept any liability in the event of breach by any person of the applicable legal restrictions. Under no circumstances may the offer be accepted by a person in a country where acceptance of the offer represents a breach of applicable laws and regulations
It is strongly recommended for the shareholders and other investors to review the offer documents before taking any decision with regard to the offer.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.