Mid Europa Partners Completes Tender Offer for Invitel Holdings A/S
25 Januar 2010 - 1:41PM
PR Newswire (US)
BUDAPEST, January 25 /PRNewswire-FirstCall/ -- Mid Europa Partners
("Mid Europa") announced today that it has completed its tender
offer to purchase any and all of the outstanding ordinary shares,
par value EUR0.01 per share ("Invitel Shares"), and any and all of
the American Depositary Shares, each representing one Invitel Share
("Invitel ADSs"), of Invitel Holdings A/S ("Invitel") (NYSE Amex:
IHO). The offer and withdrawal rights expired at 12:00 midnight,
New York City time, on Friday, January 22, 2010. According to the
report of the settlement agent for the offer, a total of 2,900,489
Invitel Shares and Invitel ADSs have been tendered and not
withdrawn, including Invitel ADSs subject to guaranteed delivery.
As a result of the offer, Mid Europa will own approximately 91.8%
of the outstanding Invitel Shares (including Invitel Shares
represented by Invitel ADSs). Mid Europa intends to make prompt
payment for the Invitel Shares and Invitel ADSs properly tendered
and accepted, and in the case of Invitel ADSs tendered by
guaranteed delivery procedures, after timely delivery of such
Invitel ADSs and required documentation. Mid Europa intends to
acquire the remaining Invitel Shares not owned by Mid Europa in a
subsequent compulsory acquisition procedure under Danish law at the
same per share cash price offered and paid in the tender offer.
About Mid Europa Partners Mid Europa Partners is a leading
independent private equity firm focused on Central and Eastern
Europe. Operating from London, Budapest and Warsaw, Mid Europa
Partners advises and manages funds with asset value of
approximately EUR3.2 billion. The Mid Europa Partners team has been
investing in Central and Eastern Europe since 1999. About Invitel
Holdings A/S Invitel Holdings A/S, formerly Hungarian Telephone and
Cable Corp., operating under the Invitel brand name, is the number
one alternative and the second-largest fixed line
telecommunications and broadband Internet Services Provider in the
Republic of Hungary with more than 1 million customers in Hungary.
In addition to delivering voice, data and Internet services in
Hungary, it is also a leading player in the Central and Eastern
European wholesale telecommunications market. Cautionary Statement
Regarding Forward-Looking Statements Statements about the expected
effects, timing and completion of the proposed transaction and all
other statements in this release other than historical facts,
constitute forward-looking statements. You can identify
forward-looking statements because they contain words such as
"believes," "expects," "may," "will," "would," "should," "seeks,"
"approximately," "intends," "plans," "estimates," or "anticipates"
or similar expressions which concern our strategy, plans or
intentions. These statements are based on current expectations and
involve risks and uncertainties relating to, among other things,
general economic factors, business and capital market conditions,
general industry trends, changes in tax law requirements and
government regulation. Mid Europa does not undertake publicly to
update or revise any forward-looking statement that may be made in
this release, whether as a result of new information, future events
or otherwise. DATASOURCE: Mid Europa Partners & Invitel
Holdings A/S CONTACT: For further information please contact: Media
Contact: David Westover/Agnes Riousse, Citigate, +44(0)20-7638-9571
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