Cie du Bois Sauvage sells its stake in Satair 27-07-2011
Public offer on Satair
Today, the EADS group has announced a public offer on the Danish company Satair (www.satair.com) of which Compagnie du Bois Sauvage holds 5.8% (250.000 shares) since the beginning of 2006. The offer amounts to DKK 580 per share, a 23% premium compared to the last closing price and a premium of 101% compared to January 3rd, 2011.
Compagnie du Bois Sauvage has irrevocably committed to tender its shares to the offer.
Should the offer succeed and taking into account the exceptional dividend of DKK 50 per share received in June 2011, the equity of Compagnie du Bois Sauvage will increase by approximately EUR 9.5 million compared to December 31, 2010 (and EUR 5 million compared to the last published net asset value at June 30, 2011).
The sale will positively impact the cash position by over EUR 19 million.
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