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| 19.04.2002
ZANDERS completely integrated part of M-real |
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Bergisch Gladbach. As M-real has announced earlier, it will take advantage of the possibilities to exclude minority shareholders (squeeze-out) in line with the new take over law in Germany. M-real is to pay € 80.00 per ordinary share and € 85.94 per preferred share to the remaining outside shareholders of ZANDERS Feinpapiere AG. The ZANDERS Feinpapiere AG Board of Management welcomes the M-real decision.
Dr. Jürg Müller, CEO at ZANDERS states, "As to 100% owned by M-real we can fully exploit synergies. The minority shareholders who have been loyal to ZANDERS for many years will receive an attractive compensation."
The new legal corporate options have been in force since the Takeover Act took effect on January 1, 2002 in Germany. M-real has asked the Management Board and the Supervisory Board to place a resolution to exclude the minority shareholders on the agenda of the next Annual Meeting of the ZANDERS Feinpapiere AG on June 27, 2002. M-real currently holds through M-real Deutsche Holding GmbH 99.757 % of the ordinary shares and 98.790 % of the preferred shares of the ZANDERS Feinpapiere AG. The compensation has been evaluated and confirmed by PriceWaterhouseCoopers and also by the court appointed auditor BDO.
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| For more information: |
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M-real Zanders GmbH
Stefan Küchler
An der Gohrsmühle | Postfach 20 09 60 | D-51465 Bergisch Gladbach
Tel: +49 (0) 2202 / 15 20 50 2050 Fax: +49 (0) 2202 / 15 28 21
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