Van Lanschot and Kempen reach an accord and sign purchase agreement |
Van Lanschot NV (Van Lanschot), Kempen & Co NV (Kempen) and Kempen's major shareholders have signed the share purchase agreement for the acquisition of Kempen. Van Lanschot announced on 7 September 2006 that it intended to submit a bid for Kempen. This acquisition will strengthen Van Lanschot's leading position with its target groups: high net-worth individuals, institutional investors, businesses and entrepreneurs.
All the major shareholders of Kempen have accepted Van Lanschot's offer. The acquisition price amounts to € 300 million for 100% of the shares. The acquisition is to be paid partly in cash and partly in shares, for which Van Lanschot is to issue shares for a total amount of € 180 million. The parties to the share purchase agreement have reached agreement on the customary representations and warranties.
The shares are expected to be transferred on 2 January 2007. The Works Councils of Van Lanschot and Kempen have issued a positive recommendation on the transaction. The acquisition is subject to the approval of the competent regulatory authorities. Van Lanschot will consolidate Kempen as from 2007.
F. van Lanschot Bankiers NV is the oldest independent bank in the Netherlands, with a history dating back to 1737. The bank focuses on two target groups: high net-worth individuals and medium-sized businesses (including family businesses). Van Lanschot stands for high-quality services founded on integrated advice, personal service and customised solutions. Van Lanschot NV is listed on the Euronext Amsterdam Stock Market.
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Press contacts for Van Lanschot: Arno Barens, Corporate Communications Director.
Telephone +31 (0)73 548 3096; mobile +31 (0)6 229 353 02;
e-mail A.Barens@vanlanschot.com; fax +31 (0)73 548 33 49.
Investor Relations for Van Lanschot: Geraldine Bakker-Grier, Investor Relations Manager.
Telephone +31 (0)73 548 33 50; mobile +31 (0)6 13 976 401;
e-mail G.A.M.Bakker@vanlanschot.com; fax +31 (0)73 548 33 49.
Press contacts for Kempen: Bieneke Mulder, Company Secretary.
Telephone +31 (0)20 348 8012;
e-mail bmul@kempen.nl; fax +31 (0)20 348 8400.
The press release can be downloaded from the following link: |