Final results of the CACEIS offer for KAS BANK : 97.07% of KAS BANK shares were tendered to CACEIS
CACEIS Bank ("CACEIS") and KAS BANK have today issued a joint statement informing the market that approximately 1.77% of KAS BANK shares have been tendered under the recommended offer during the post acceptance period. Including securities already held by CACEIS, the total amount of securities tendered under the offer represents 97.07% of the capital. The settlement and delivery of the securities tendered during the reopening period will take place on 11th October 2019.
CACEIS will rapidly initiate squeeze-out proceedings in order to obtain 100% of the Securities of KAS BANK. KAS BANK and CACEIS have requested the delisting of KAS BANK shares on Euronext Amsterdam. In consultation with Euronext Amsterdam, it has been decided that the last trading day of the securities will be on 4th November 2019.
Jean-François Abadie, Managing Director of CACEIS stated, "We are delighted with this final result which confirms the success of our recommended offer. This transaction marks a new milestone for CACEIS and KAS BANK. All our clients will benefit from a comprehensive service offering from a strong European leader in asset servicing."
CACEIS is the asset servicing banking group of Crédit Agricole dedicated to asset managers, insurance companies, pension funds, banks, brokers and corporate clients. Through offices across Europe, North America and Asia, CACEIS offers a broad range of services covering execution, clearing, forex, securities lending, custody, depositary and fund administration, fund distribution support, middle office outsourcing and issuer services. With assets under custody of €2.6 trillion and assets under administration of €1.7 trillion, CACEIS is a European leader in asset servicing and one of the major players worldwide (figures as of 31 December 2018).