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Ziggo squeeze-out price set out by Dutch court
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A Dutch court has ruled that €39.78 per Ziggo share is a fair “squeeze-out price” and ordered all minority shareholders to transfer their shares.
The ruling, which follows Liberty Global’s buyout of the Dutch cable operator last year, will give Liberty control over 100% of the business.
The enterprise chamber of the Amsterdam Court of Appeal said that Ziggo shareholders may voluntarily transfer their shares to Liberty subsidiary LGE HoldCo up to and including May 13, 2015.
On May 19, 2015, Liberty will pay the squeeze-out price into the consignment fund of the Dutch Ministry of Finance.
As of that date, all shares that have not been transferred voluntarily will automatically transfer to Liberty, and the former shareholders are then entitled to receive payment of the squeeze-out price, plus accrued interest from the consignment fund of the Dutch Ministry of Finance.
As of November 2014, Liberty Global held 98.4% of Ziggo shares.
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