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SOLUNI acquires entire shareholding of CNN and Martin GmbH in CNIM SA; CNIM SA proposes exceptional distribution


Friday, 18 Jul 2014 12:52pm EDT 

Constructions Industrielles De La Mediterranee - CNIM SA:Announces completion on July 17 of acquisition by its main shareholder SOLUNI of entire shareholding in CNIM of la Compagnie Nationale de Navigation (“CNN”) and Martin Gmbh fuer Umwelt und Energietechnik (“Martin GmbH”).Acquisition made at 105 euros per share.SOLUNI now holds 56.35 pct of share capital and 56.17 pct of voting rights of CNIM.SOLUNI will shortly file draft mandatory simplified tender offer over all of shares in CNIM that it does not hold, at price of 105 euros per share.Says its supervisory board has voted in favor of exceptional distribution of 90.8 million euros.Management board of CNIM has decided to call ordinary general meeting of shareholders of CNIM to decide upon such distribution on Sept. 8.It will be proposed that this exceptional distribution be paid before Dec. 31 and that ex-date be during tender offer.If shareholders tender their shares to the tender offer before or after such ex-date price per share offered within tender offer would be reduced by amount of exceptional distribution per share. 

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