Borealis AG says it intends to launch a squeeze-out offer on shares held by minority shareholders in mineral fertiliser manufacturer Rosier SA. Borealis has held a majority interest in Rosier since 2013 and is now offering a consideration of EUR 20 per share, in accordance with the Belgian Royal Decree on Public Squeeze-Out Offers.
The launch of the squeeze-out offer will be subject to obtaining the report of the independent expert stating the elements referred to in article 6 of the Royal Decree, and to the actual completion of the capital increase, for which the approval is on the agenda of the extraordinary shareholders’ meeting on 16 June 2022. After the envisaged capital increase, Borealis would hold a stake of approximately 98% in the Company, thus meeting the 95% threshold required under Belgian law for a squeeze-out bid.
This communication is only the expression of an intention and does not constitute a formal notification of a squeeze-out offer within the meaning of the Royal Decree. If Borealis decides to formally launch such offer, it will deposit in due course a file with the Belgian Financial Services and Markets Authority (FSMA), including a draft prospectus.