PUBLIC OFFER BY CONSORTIUM LED BY KKR

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ABOUT
THE OFFER

Welcome! This web page is dedicated to inform shareholders about the public offer by the Consortium led by KKR to acquire all shares of Accell Group.

On this webpage you will find all relevant information and documents related to the Offer and a timeline of key events with practical guidelines on the voting and tendering of shares during the Acceptance Period.

UPDATE: On 9 June 2022, the Offer was declared unconditional. On 16 June 2022, settlement of the Offer will take place at which date the Offer Price of EUR 58.00 will be paid to the Shareholders that have tendered their Shares during the Acceptance Period. Shareholders who have not tendered their Shares during the Acceptance Period may still tender their Shares at the Offer Price of EUR 58.00 during the Post Acceptance Period, which has commenced and ends on Thursday 23 June 2022, 17:40 CEST. Shareholders are advised to contact their financial intermediary, who may set an earlier deadline for providing instructions. Remaining Shareholders who consider not tendering their Shares in the Post Acceptance Period should carefully review sections 4.13 (Post-Settlement Restructurings), 4.14 (Consequences of the Offer) and 8.3 (Dutch Tax aspects for Shareholders who do not tender their Shares under the Offer) of the Offer Memorandum.

  • On 24 January 2022, Accell Group and the Consortium announced that they reached agreement on a recommended all-cash public offer by the Consortium for all issued and outstanding ordinary shares in the capital of Accell Group at an offer price of EUR 58.00 (cum dividend) per share.
  • The Offer Memorandum was published on 7 April 2022.
  • Shareholders are advised to contact their financial intermediary, who may set an earlier deadline for sending instructions to accept the Offer.
  • On 7 April 2022, Accell Group also published its Position Statement. In this document the Boards explain why they support the Offer and recommend shareholders to accept it.
  • The Offer Memorandum and the Position Statement contain important information that should be read carefully before making a decision to tender shares under the Offer.

Strategic rationale

  • The Consortium and Accell Group believe that the Transaction promotes the sustainable success of Accell Group's business, taking into account the interests of its shareholders, employees, customers, suppliers, creditors and other stakeholders.
  • The Consortium and Accell Group believe that the Transaction offers shareholders significant and immediate de-risked cash value, against a backdrop of increased geopolitical uncertainty and ongoing volatility in global supply chains and equity markets.
  • A private setting with the Consortium as shareholder would enable Accell Group to make significant up-front investments to mitigate the significant ongoing supply chain issues and inflationary pressures affecting the bicycle industry globally, protect its market position from increasing numbers of new entrants into the e-bike sector, and accelerate the execution of its strategy in the coming years through further investment in long-term strategic growth initiatives.

Pricing

The offer price of EUR 58.00 (cum dividend) per share represents a premium of:

26%

over the closing price on 21 January 2022, the last trading day before Announcement

42%

over the last three months volume-weighted average closing price per share before Announcement

21%

to Accell Group's all-time high closing price before Announcement of EUR 48.00 per share

The all-cash Offer represents immediate value for shareholders

 

FAQ with regard to the Offer

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Indicative timeline of events

Timeline

PRESS
RELEASES

Please find here the latest press releases regarding the Offer that have been published.

View all press releases

TRANSACTION DOCUMENTS AND DOWNLOADS

The Offer Memorandum and Position Statement below provide you with important information on the Offer.

View all documents

INFORMATON
FOR SHAREHOLDERS

Public Offer in a nutshell

Read more

Read the FAQ

EXTRAORDINARY
GENERAL
MEETING (EGM)

Your vote counts! Here you will find all information including the convocation and the agenda for the EGM in connection with the Offer.

Read more

Read the FAQ