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SKion Exceeds Threshold of 95 Percent Of ALTANA Shares

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

SKion GmbH has informed ALTANA that as of Feb. 2, 2010, it held 129,342,421 shares or 95.04 percent of the ALTANA shares.
    
At the same time, SKion is requesting ALTANA AG to convene a shareholders meeting pursuant to §327a Section 1 of the German Stock Corporation Act (AktG). In this meeting, a resolution on the transfer of the shares held by the remaining shareholders to SKion GmbH in return for an appropriate cash compensation shall be passed (the so-called “squeeze out.”)
    
On Nov. 9, 2009 SKion had made another revised improved voluntary public offer to the shareholders of ALTANA AG, offering to acquire their shares in ALTANA AG at a purchase price of €14 per share being valid until expiration of the acceptance period ending on Dec. 14, 2009. On the basis of this voluntary offer and by means of further acquisitions of shares, SKion GmbH had been able to continuously increase its shareholding in ALTANA AG to the current percentage of ownership.
    
Susanne Klatten is the sole shareholder of SKion GmbH. She is also acting as vice chairwoman in the supervisory board of ALTANA AG.

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