- Pressemitteilung BoxID 343057
Advanced Inflight Alliance AG: Tender offer by PAR Investment Partners L.P. completed
On July 11, 2012 PAR Investment Partners L.P. published a tender offer under the German Take Over Act for all shares in Advanced Inflight Alliance AG.
On July 20, 2012 the management board and the supervisory board of Advanced Inflight Alliance AG rendered a joint statement in which both boards, as required by German law, evaluated the adequacy of the price offered by PAR Investment Partners L.P. in the tender offer and suggested that shareholders should accept the offer.
On August 13, 2012 PAR Investment Partners L.P. announced that at the expiry of the tender offer on August 8, 2012, a total 34.94 percent of all outstanding shares of Advanced Inflight Alliance AG had been tendered.
After the settlement of the shares tendered in the original offer period, on August 24, 2012 PAR Investment Partners L.P., has informed Advanced Inflight Alliance AG and publicly announced in accordance with the German Security Trading Act that PAR Investment Partners L.P. owned a total of 19,163,833 shares in Advanced Inflight Alliance AG, equaling 80.53 percent of the voting rights in Advanced Inflight Alliance.
On Monday, August 27, 2012 at 24:00 the statutory, extended acceptance period, in which shareholders have a right to tender their shares in Advanced Inflight Alliance AG, has ended. Therefore the tender offer now is formally completed.
Advanced Inflight Alliance AG anticipates that PAR Investment Partners L.P. will within the next couple of days in accordance with the German Security Trading Act inform the company and publicly announce the final number of shares that PAR Investment Partners L.P. owns in Advanced Inflight Alliance AG. Advanced Inflight Alliance AG plans to include the final shareholdings of PAR Investment Partners L.P. in the Half Year Report 2012 that will be released on Friday, August 31, 2012.
Louis Bélanger-Martin, CEO of Advanced Inflight Alliance AG, commented: "We are delighted that PAR Investment Partners L.P. have committed to investing in the future of Advanced Inflight Alliance AG, as we work towards continuing the growth of our business."
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