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Markus · 2024-03-14T13:51:29.699935Z

Nachdem bereits Anfang der Woche darüber spekuliert wurde steht nun fest: KKR wird ein freiwilliges öffentliches Übernahmeangebot an sämtliche Aktionäre von $ECV zu einem Preis von 17,50€ je Aktie in bar abgeben. Für Aktionäre gibt es nun drei Möglichkeiten: (1) Jetzt zu etwa 17€ über die Börse aussteigen. (2) Abwarten, bis (vermtl. in ein paar Wochen) das öffentliche Übernahmeangebot kommt. Sofern dies wie bekanntgegeben ausfällt, wird das über die Depotbank zugestellt und man kann seine Aktien zu € 17,50 einreichen. (3) Die Aktien dauerhaft halten. Solange KKR nicht mindestens 90% hat, ist ein zwangsweiser Ausschluss der Aktionäre (Squeeze-Out) nicht möglich. Allerdings wird in der heutigen Meldung schon die Option eines Delistings erwähnt. Die Aktie wäre dann nicht mehr im Prime Standard handelbar, sondern wahrscheinlich nur noch im Freiverkehr Hamburg (was manche institutionelle Investoren zu einem Verkauf zwingen würde). Wer sich für's Durchhalten entscheidet, spekuliert auf eine Delisting-Offerte bzw. ein zweites Angebot zu späterem Zeitpunkt bzw. perspektivisch einen Squeeze-Out zu höherem Preis. Ich persönlich werde mich wohl für Option Nummer 2 entscheiden. Mich würde interessieren wie ihr das seht? Quelle: cwroehl

Markus

@MarkusBaeda

10Lun·

After speculation about this at the beginning of the week, it is now certain:

KKR will make a voluntary public takeover offer to all shareholders of $ECV (-0,14 %) at a price of €17.50 per share in cash.

Shareholders now have three options:

(1) Exit now at around €17 via the stock exchange.

(2) Wait until the public takeover offer is made (probably in a few weeks). If this turns out to be as announced, it will be delivered via the custodian bank and you can tender your shares at € 17.50.

(3) Hold the shares permanently. As long as KKR does not hold at least 90%, a compulsory squeeze-out of shareholders is not possible. However, the option of a delisting is already mentioned in today's announcement. The share would then no longer be tradable in the Prime Standard, but probably only in the Hamburg Regulated Unofficial Market (which would force some institutional investors to sell). Those who decide to hold out are speculating on a delisting offer or a second offer at a later date or, in the future, a squeeze-out at a higher price.

Personally, I will probably opt for option number 2. I would be interested to know what you think?

Source: cwroehl

7 Comentarios

Mister_ultra@Mister_ultra

10Lun

I was just reading it and thought it read a lot like Röhl, until I read the source at the end 😂

I will probably also sell my shares now for €17. The potential upside to 17.50 is so small that theoretically even 4% in the call money account is enough to get the same profit in the end.

Too bad, would have liked to stick with it, but option 3 is just too risky for me.

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Markus@MarkusBaeda

10Lun

@Mister_ultra I thought this would certainly be of interest to some people who are not Röhl fans 😂

I would have liked to stick with it too, but the risk of stopping is too great for me.

Have you thought of a good alternative yet? $NEE ?

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Mister_ultra@Mister_ultra

10Lun

@MarkusBaeda Very good question! I already have Nextera in my portfolio, so that would be the logical next step 😄
Have you decided on Nextera?

I'm not sure yet, though. Inevitably, however, this will further reduce my Germany share 😂

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Markus@MarkusBaeda

10Lun

@Mister_ultra I haven't made a final decision yet, but I'm leaning strongly towards Nextera, yes.

However, I may also take at least a portion out of the "green energy" sector and invest in the dirty oil business (I'm currently flirting with $EQNR).

Basically, however, I think that now is not a bad time to invest in the energy sector (especially green energy).
From this point of view, the rather high redemption price of €17.50 per share followed by an investment in another share from the same sector is not a bad move, I think.

Do you have any other options in the green energy sector?

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