Ferd/CVC Refrain from Increasing Offer Price for SIG
Ferd/CVC continue to be convinced that combining SIG with Elopak would have offered SIG and its stakeholders the best industrial prospects.
14/03/07 Ferd AS ("Ferd") and Funds advised by CVC Capital Partners ("CVC") announced that they will refrain from further increasing the offer price of the all-cash tender offer made by their joint subsidiary Romanshorn S.A. for all publicly held registered shares of SIG Holding Ltd. ("SIG") on 25 September 2006, and that they will divest their stake in shares of SIG.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA OR AUSTRALIA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
Shares amounting to 8.24% of SIG’s total share capital and voting rights have already been divested, bringing the stake held directly or indirectly by Ferd/CVC to 2.38%.
Ferd/CVC continue to be convinced that combining SIG with Elopak would have offered SIG and its stakeholders the best industrial prospects. However, Ferd/CVC are not willing to pay a price for SIG that could compromise the business rationale of the transaction.
Ferd/CVC appreciate the position the SIG Board took in the process and congratulate them for the excellent outcome for their shareholders. Ferd/CVC further thank the Elopak and SIG management teams for their diligence and professionalism. With a new owner of SIG becoming apparent, Ferd/CVC wish all employees of SIG good luck.
