28.05.02
Hapag-Lloyd AG plans via its 100% subsidiary VTG Vereinigte Tanklager und Transportmittel GmbH to increase its stake in VTG-Lehnkering AG. The public purchase offer to the free shareholders is to be €13.16 per individual share certificate. This is well above the average share price in recent months.
The executive board of VTG-Lehnkering basically supports this offer.
Hapag-Lloyd as transport and logistics group currently holds 80.96% of the share capital of VTG-Lehnkering amounting to €54.3m. About 4m of the total of 20.9m shares are owned by free or institutional investors. The offer applies on condition that a majority shareholding of at least 95% is acquired.
The offer will probably be published after approval by the German Federal Financial Supervisory Agency at the end of June 2002.
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