Wintershall has effected a compulsory acquisition of the shares in Revus Energy ASA
Kassel. Wintershall Norwegen Explorations- und Produktions-GmbH ("Wintershall"), a wholly owned subsidiary of Wintershall Holding AG, today (18 December 2008) effected a compulsory acquisition ("squeeze out") of the shares in Revus Energy ASA ("Revus") not already held by Wintershall in accordance with section 6-22(3) of the Norwegian Securities Trading Act cf. section 4-25 of the Norwegian Public Limited Companies Act. As a result, Wintershall has become the owner of all the shares in Revus and the minority shareholders will instead of their shares receive a claim for monetary compensation.
The compensation offered in the compulsory acquisition is NOK 110 per share, equal to the price that was offered as cash settlement to the share-holders in Revus through Wintershall’s voluntary offer dated 4 November 2008. Any objections to or rejection of the compensation offered must be made before 19 February 2009. Settlement of the compensation to the minority shareholders that do not object to or reject the offered compensation will take place on or about 26 February 2009.
Wintershall, based in Kassel, Germany, is a wholly-owned subsidiary of BASF in Ludwigshafen. The company has been active in the exploration and production of crude oil and natural gas for over 75 years. Wintershall focuses on selected core regions, where the company has built up a high level of regional and technological expertise. Today the company is Germany’s largest producer of crude oil and natural gas and with its subsidiary, WINGAS, it is also an important gas supplier on the German and European market.
This release is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. This release has been prepared by Wintershall Holding AG. No representation or warranty (express or implied) of any nature is given, nor is any responsibility or liability of any kind accepted, with respect to the truthfulness, completeness or accuracy of any information, projection, statement or omission in this presentation. This release does not constitute, nor does it form part of, any offer or invitation to buy, sell, exchange or otherwise dispose of, or issue, or any solicitation of any offer to sell or issue, exchange or otherwise dispose of, buy or subscribe for, any securities, nor does it constitute investment, legal, tax, accountancy or other advice or a recommendation with respect to such securities, nor does it constitute the solicitation of any vote or approval in any jurisdiction, nor shall there be any offer or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the applicable securities laws of any such jurisdiction (or under exemption from such requirements).