BCP Crystal Acquisition GmbH & Co. KG Announces Preliminary Results of Celanese Offer.Business Editors STUTTGART, Germany--(BUSINESS WIRE)--March 30, 2004 Based on preliminary results received to date, BCP BCP Best Current Practice(s) BCP Business Continuity Planning BCP Business Continuity Plan BCP Book of Common Prayer BCP Banco Comercial Português BCP Bureau of Consumer Protection (US Federal Trade Commission) Crystal Acquisition GmbH & Co. KG, Stuttgart, appears to have successfully reached the minimum tender threshold required to complete its voluntary public take-over offer for all outstanding registered ordinary shares with no par value of Celanese AG, Kronberg im Taunus, at a price of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 32.50 per share. BCP Crystal Acquisition GmbH & Co. KG is a German limited partnership controlled by a group of funds group of funds See family of funds. advised by The Blackstone Group Blackstone Group L.P. (NYSE: BX) is a prominent private equity and investment management firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. The company is based in New York City, in River House on Park Avenue at Fifty-first Street, with offices in Atlanta, . The terms of the offer, which expired yesterday, required that at least 75% of the Celanese shares outstanding at the end of the acceptance period, excluding treasury shares, be validly tendered and not withdrawn at the end of the acceptance period. As of the expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of the acceptance period and based on preliminary information, approximately 39,605,768 shares had been tendered, representing approximately 80% of the outstanding shares, excluding treasury shares. Due to German practice regarding the booking by custodian bailee (custodian) n. a person with whom some article is left, usually pursuant to a contract (called a "contract of bailment"), who is responsible for the safe return of the article to the owner when the contract is fulfilled. institutions of withdrawals and additional tenders submitted before the expiration of the offer and the calculation and publication of final results, a final determination of the number of shares tendered and of the success of the offer cannot be made until after the close of business in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of on April 1, 2004. As soon as practicable after such determination is made, BCP Crystal Acquisition GmbH & Co. KG expects to publicly announce such final results and to publish them in the Borsen-Zeitung. Assuming the final results confirm that the minimum acceptance threshold has been reached, BCP Crystal Acquisition GmbH & Co. KG will pay for shares tendered in the offer during the week of April 5, 2004, and shareholders that did not tender during the acceptance period will have an opportunity to tender their shares during a subsequent acceptance period expected to start on April 4, 2004 and to end on April 19, 2004. "Based on the preliminary figures, Blackstone is pleased with the results of the tender offer. Assuming that we are ultimately successful, we look forward to consummating the transaction and working with Celanese to fulfill the stated objectives," said Chinh Chu, Senior Managing Director of The Blackstone Group. |
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