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Clifford Chance advises CACEIS on a EUR 187 million public offer for all issued shares and depositary receipts of shares in the capital of Kas Bank

27 February 2019

Clifford Chance advises CACEIS on a EUR 187 million public offer for all issued shares and depositary receipts of shares in the capital of Kas Bank

Clifford Chance Amsterdam advised long-term firm client CACEIS, European leader in asset servicing, on the successful EUR 187 million public offer for all issued shares and depositary receipts of shares in the capital of Kas Bank N.V, a specialist in the field of custody and administration services. Following the launch of the public offer on 26 July 2019, approximately 95.30% of all issued and outstanding shares in the capital of Kas Bank N.V. have been committed to CACEIS at an offer price of EUR 12,75 (cum dividend) in cash per share. CACEIS has declared the offer unconditional and settlement of the tendered shares has taken place on Friday 27 September 2019. CACEIS and Kas Bank intend to procure the delisting of the shares from Euronext Amsterdam soonest and CACEIS intends to initiate a statutory squeeze-out procedure to obtain control of the remaining shares in Kas Bank N.V. With its international and cross-practice area team, Clifford Chance will continue to advise CACEIS on the further integration of KAS BANK in the CACEIS Group.

The transaction team was led by Jeroen Thijssen and Han Teerink out of Amsterdam and furthermore comprised Robin Traas, Carlijn Tenge and Marina Sarkisjan (Corporate), Jurgen van der Meer and Thom Beenen (Regulatory), Michiel Sunderman and Stern Flik (Tax), Floris van de Bult, Wijnanda Rutten and Marije Senne (Employment & Pensions), Mark Jan Arends and Serkan Özel (Notarial team) and Frans Muller and Jurre Jurriens (Anti-trust)