Evotec Completes Squeeze-Out Process for DeveloGen
Product News Jan 25, 2012
Evotec AG has announced the completion of the squeeze-out process to acquire all of the remaining shares of DeveloGen AG from its minority shareholders. Evotec now is owner of 100% of the shares in DeveloGen.
The former minority shareholders of DeveloGen will receive a payment of €12.75 per share, summing up to approximately €180,000.
Evotec had acquired 99.4% of the shares in DeveloGen in 2010. Following this, Evotec initiated a squeeze-out process regarding the remaining 0.6% of shares, which were held by about 250 minority shareholders.
A General Meeting of the DeveloGen shareholders on 8 November 2011 voted in favour of the squeeze-out.
The price per DeveloGen share of €12.75 was approved by an expert appointed by the Hannover district court.
With the registration of the squeeze-out in the commercial register Evotec became the sole owner of DeveloGen AG which has been renamed to Evotec (Göttingen) AG.