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Parjointco and Pargesa Announced Parjointco's Public Exchange Offer to Pargesa's Minority Shareholders Declared Successful
Parjointco and Pargesa Announced Parjointco's Public Exchange Offer to Pargesa's Minority ...
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\nParjointco and Pargesa Announced Parjointco's Public Exchange Offer to Pargesa's Minority Shareholders Declared Successful\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTRÉAL, June 9, 2020\n\n\n\nReaders are referred to the section \"Forward-Looking Statements\" at the end of this release.\n MONTRÉAL, June 9, 2020 /CNW Telbec/ - Parjointco Switzerland SA (\"Parjointco\"), a company jointly controlled by Power Corporation of Canada (\"Power Corporation\" or \"PCC\") (TSX: POW) and the Frère family, and Pargesa Holding SA (\"Pargesa\") today announced that the key pending condition of the previously announced public exchange offer has been fulfilled and the offer has accordingly been declared successful.   \nParjointco and Pargesa reported that the offer was accepted by shareholders holding 28,468,839 Pargesa shares, representing 75.55% of the Pargesa shares subject to the offer which, when combined with the Pargesa shares held by Parjointco and the persons acting in concert with it, represents 93.98% of Pargesa's voting rights, thus satisfying this key pending condition for the exchange.   \nAdditional details are disclosed in the joint announcement available at https://www.pargesa.ch/titres-pargesa/exchange-offer-offre-dechange/. \nAs previously announced, the proposed transaction, once completed, will simplify the group structure as Pargesa shareholders will receive shares of Groupe Bruxelles Lambert (\"GBL\") pursuant to the offer.\nAbout Power CorporationPower Corporation is an international management and holding company that focuses on financial services in North America, Europe and Asia. Its core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms. To learn more, visit www.PowerCorporation.com.\nThis news release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell any securities. The exchange offer described in this press release is ...