AVIC confirms bid for KHD

AVIC confirms bid for KHD

AVIC International Engineering has published the offer document for the voluntary public takeover offer to the shareholders of KHD to acquire all shares in KHD.

According to a release, the joint bidders offer a cash consideration of EUR6.45 per KHD share. The offer price includes a premium of approximately 35 per cent on the weighted average domestic stock exchange price for KHD shares in the three-month period prior to the publication of the decision to launch the takeover offer on 11 October.

Shareholders of KHD Humboldt Wedag International can accept the offer as of now and tender their shares until 19 December 2013.

AVIC already indirectly owns a total of approximately 20 per cent of the shares in KHD through its subsidiary Max Glory.