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Clifford Chance advises CACEIS on a EUR 188 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 188 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 a EUR 188 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.

Kas Bank N.V. and CACEIS on 25 February 2019 jointly announced that they have reached conditional agreement on an intended recommended full public offer for Kas Bank N.V. of EUR 12.75 (cum dividend) in cash per issued depositary receipt of ordinary shares and per issued ordinary share in the capital of Kasbank N.V., subject to customary conditions. The offer price represents a premium of 110% to the closing price of the depositary receipts listed on Euronext Amsterdam on 22 February 2016, and a premium of 110% to the average closing price for the 3 months prior to and including that date. The transaction is expected to be completed in Q3 2019.

The team is led by Jeroen Thijssen and Han Teerink and consists of Jurgen Leutscher, Carlijn Tenge, Robin Traas (Corporate), Jurgen van der Meer, Thom Beenen (Regulatory), Michiel Sunderman and Stern Flik (Tax), Floris van de Bult, Wijnanda Rutten and Marije Senne (Employment & Pensions), Jaap Tempelman (IP/IT), Mark Jan Arends, Serkan Özel (Notarial team), Frans Muller, Jurre Jurriens (Anti-trust) and Camille Welfringer and Alexandre Merle from Clifford Chance Paris.