Adecco secures 98.4% of registered share capital of DIS AG
Adecco, the world leader in Human Resources (HR) services announced today that the company has signed an agreement to purchase 15.7% of registered share capital of DIS AG for a total consideration of EUR 219 million. Adecco now holds 98.4% of registered share capital of DIS AG and intends to initiate a squeeze-out procedure.
A group of investors agreed to immediately sell their shares in DIS AG for EUR 113 per share. After the close of the transaction Adecco holds 98.4% of DIS AG registered share capital. Of the remaining 1.6% of shares, 1.1% is held by DIS AG as treasury shares, 0.5% is held by other minority shareholders. Adecco therefore is entitled to squeeze out DIS AG’s remaining shareholders. As a consequence of the intended squeeze-out procedure, Adecco will no longer support the delisting procedure and withdraws its cash compensation offer for the delisting.
While maintaining brand names and a separate distribution network, DIS AG will be a fully integrated part of Adecco following the successful squeeze-out of the remaining minority shareholders. Following the approval of the Tuja acquisition by the EU commission at the end of July 2007, Adecco now intends to optimize the operational and legal structure of its German operations.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.