16.11.2017 Alpine Select Ltd.: Merger talks between Alpine Select Ltd and Altin Ltd. completed
Zug, 16 November 2017
Alpine Select Ltd: Merger talks between Alpine Select Ltd and Altin Ltd. completed
Alpine Select Ltd. («Alpine Select») informed on 8 November 2017, to have submitted a merger proposal to the Board of Directors of Altin AG («Altin») according to which, the minority shareholders of Altin shall receive a cash consideration in the amount of USD 11.50 per Altin share, by way of a squeeze-out merger with Absolute Invest Ltd. («Absolute Invest», a 100% subsidiary of Alpine Select.).
As you can gather from today’s press release from Altin, the merger negotiations could be concluded with the signing of a merger agreement between Absolute Invest and Altin: «The independent members of the Board of Directors of Altin examined the merger proposal with the assistance of advisors and conducted discussions with the majority shareholder. Assessing also a valuation report obtained, the independent board members consider the compensation of USD 11.50 per Altin share as fair and appropriate. The two representatives of Alpine Select Ltd. on Altin’s board of directors recused themselves from the examination and resolution of the merger proposal. »
In addition, Altin informs in its press release to convene an extraordinary shareholders’ meeting on 18 December 2017 and will submit for decision the merger proposal, or, respectively, to approve the merger agreement as negotiated with Absolute Invest.
Absolute Invest and Altin are still aiming to complete the merger before the year 2017. Following completion of the merger, Alpine Select will publish only the NAV, currently described as «Consolidated Weekly NAV».
About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the Swiss Stock exchange since 1998. The company offers institutional and individual investors the opportunity to buy into a broad portfolio. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees. The Company’s shares are liquid and have traded at or close to its Net Asset Value.