Celanese AG Signs a Legal Settlement with Minority Shareholders.KRONBERG, Germany -- Celanese (NYSE NYSE See: New York Stock Exchange :CE)(FWB (Fixed Wireless Broadband) See fixed wireless. :CZZ CZZ Chazan-Ziv-Zakai Bound ): Opposition claims to the domination agreement withdrawn At least EUR EUR In currencies, this is the abbreviation for the Euro.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. 51 per share in cash compensation for the squeeze-out agreed Celanese AG and Celanese Europe Holding GmbH & Co. KG, both German subsidiaries of Celanese Corporation, today signed a legal settlement with 11 Celanese AG plaintiff shareholders. As Celanese AG announced in an ad hoc For this purpose. Meaning "to this" in Latin, it refers to dealing with special situations as they occur rather than functions that are repeated on a regular basis. See ad hoc query and ad hoc mode. release, these plaintiff shareholders have agreed to withdraw all contestation actions filed against the shareholders resolution approving the domination and profit and loss transfer agreement. The parties to the settlement have furthermore undertaken to withdraw actions in auxiliary litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . The legal settlement recognizes the validity of the domination and profit and loss transfer agreement. The award proceeding in connection with the cash compensation offered pursuant to the dominations agreement remains unaffected from this settlement. Pursuant to the settlement Celanese Europe Holding will offer at least EUR 51 per share in cash as fair cash compensation in the context of the intended squeeze-out to the remaining shareholders. Furthermore, the company agrees to pay those shareholders affected by the squeeze-out the guaranteed dividend as stated in the domination agreement due for the Celanese AG 2005/2006 fiscal year ending September 30, 2006, immediately following the ordinary shareholders' meeting scheduled for May 2006. Celanese AG (FSE FSE 1. feline spongiform encephalopathy. 2. focal symmetrical encephalomalacia. :CZZ) is a subsidiary of Celanese Corporation, Dallas, and is headquartered in Kronberg, Germany. The company serves primarily as the holding company for the European business and certain Asian businesses of the Celanese Group. Celanese Corporation (NYSE:CE) is an integrated global producer of value-added industrial chemicals with 2005 sales of $6.1 billion and approximately 9,600 employees. Based in Dallas, Texas, U.S., the company has four major businesses: Chemicals Products, Technical Polymers Ticona, Acetate Products and Performance Products. Celanese has production plants, in North America, Europe and Asia. The presentation of combined net sales of Celanese Corporation with its predecessor is not in accordance with U.S. GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). . For more information on Celanese Corporation including a reconciliation of the combined net sales, please visit the company's web site at www.celanese.com. Further information on Celanese AG is available on www.celanese.de |
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