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Constantia Packaging - shareholders will be reconciled with €47

Published: July 20, 2010; 00:00 · (Vindobona)

The new owners of Constantia Packaging make cash payment of €47 ($60.61) per share to its minority shareholders.

The compensation for the planned squeeze-out is well above the minimum value of the takeover commission.

The new owners of Constantia Packaging make cash payment of €47 ($60.61) per share to its minority shareholders. The takeover commission assigned a lower cap of €38.83 ($50.07) a week ago.

At the request of the main shareholder Sulipo a board meeting is still to be convened at the 24th of August 2010 according to a company statement. Minority shareholders of the CPAG should receive the cash compensation in accordance with the statutory requirements after registering exclusion in the commercial register.

OEP, closely related financial investor to JP Morgan, currently holds 91.49 percent of the Constantia Packaging through its Vienna-based subsidiary Sulipo Verwaltungs GmbH.

The stock was temporarily suspended from trading. After resuming the papers recorded a significant increase of 8.86 percent. (APA)