The Berlin online retailer Zalando SE can carry out the acquisition of the competitor about You Holding SE, announced months ago.
On Tuesday evening, the e-commerce specialist announced that the European Commission granted the “final regulatory release” for the planned merger of the two companies. This means that “all the cross -enforcement conditions for the transaction are fulfilled,” emphasized Zalando. This should now take place on July 11th.
The takeover is to be carried out in a few days
Zalando once again confirmed that the company was able to secure more than 90 percent of the ABOUT YOU share capital as part of the latest takeover offer. The previous shareholders: Inside About You, who submitted their shares for sale, are now received 6.50 euros per share according to the conditions published in January.
As already announced, Zalando plans to acquire the shares of the remaining minority shareholders: to acquire “against adequate cash compensation” in the course of a squeeze-out procedure. “As part of a fusion of About You, the Squeeze-Out should take place on a 100 % subsidiary of Zalando,” explained the company.
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