IHS Chemical Week

Markets :: Specialty Chemicals :: Paints and Coatings

Altana's AGM Passes Squeeze-Out Resolution; Will De-list from Stock Exchanges

2:09 AM MDT | July 1, 2010 | Natasha Alperowicz

Shareholders in specialty chemicals firm Altana (Wesel, Germany) have approved at the company's Annual General Meeting (AGM) the transfer of the remaining shares to the company's main shareholder SKion GmbH (Bad Homburg, Germany), an investment company owned by German billionairess Susanne Klatten. SKion already holds 95.04% of Altana and once the squeeze-out has been completed, the remaining shares will be transferred to SKion in return for a cash payment of €15.01/share. Trading of Altana shares on the stock exchanges will then be discontinued. The AGM has...

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