Saverex Nv signed an expression of interest to acquire remaining 50.96% stake in Exmar NV (ENXTBR:EXM) for approximately €370 million on April 3, 2023. The offer price is €12.10 cash per share. Prior to this transaction, Saverex held approximately 45% stake in Exmar and its affiliate Nicolas Saverys hold approximately 0.01% stake in it. Exmar board of directors unanimously supports and recommends the Bid. The offer is subject to a number of conditions, including an acceptance threshold of 95% and customary material adverse change protection. If following the offer, Saverex and persons acting in concert with it hold at least 95% of the shares in Exmar and have acquired, as a result of the acceptance of the bid, at least 90% of the shares that are subject to the bid, Saverex intends to launch a simplified squeeze-out bid. As of June 7, 2023, Saverex NV announces today that on June 6, 2023, the Belgian Financial Services and Markets Authority has approved the prospectus. The initial acceptance period in respect of the Bid will open on June 8, 2023, and close on July 6, 2023. The bid price amounts to €12.10 per share. The results of the Initial Acceptance Period will be announced on July 13, 2023. Payment of the Bid Price is currently scheduled for July 27, 2023.
The independent directors of Exmar have appointed Degroof Petercam Corporate Finance SA as independent expert. KBC Securities NV and BNP Paribas Fortis SA/NV acted as financial advisors, Belfius Bank SA/NV as centralizing and receiving agent and Argo Law as legal advisor of Saverex. Dirk Meeus and Sophie Rutten of Allen & Overy LLP (Brussels) acted as legal advisor to Exmar NV.