Schuitema shares set for delisting

CVC Capital Partners and Schuitema NV said in a Dutch newspaper advertisement on July 30 that they have requested the de-listing of all Schuitema shares from NYSE Euronext Amsterdam effective on September 4.

The statement was made after CVC announced on Tuesday a mandatory offer for the remaining 1.6 percent of Schuitema shares it does not already control.

CVC said after market close on Tuesday it will offer minority shareholders 20.11 euros per Schuitema share, adding that the tender period will start on Wednesday and end on August 26.

Settlement of the offer is planned for September 3.

Previously, the Dutch shareholders association VEB has said it will launch legal action against CVC if it does not agree to raise the price of its offer.

The association said a fair price is equal to the price Royal Ahold NV was paid by CVC for its 73 percent stake in Schuitema.

The full financial details of that deal, announced in January, have not been disclosed.