Next Private declares Altice Europe offer unconditional

22 Jan 2021

Next Private has declared its offer for Altice Europe unconditional, after satisfying or waiving all offer conditions described in the offer memorandum. During the offer period that expired on 21 January 2021, 570.979 million shares A and 12.929 million shares B were tendered under the offer, representing approximately 90.89% of the number of listed shares not already held by Next Private. Upon settlement (26 January 2021), Next Private will deliver EUR 5.35 (USD6.5) in cash per listed share; at that date, Next Private will hold a total of 957.444 million shares A and 180.589 million shares B, representing approximately 95.11% of the number of listed shares and approximately 92.02% of the total issued share capital of Altice Europe. Shortly following settlement, the Post-Offer Merger will be implemented. As part of the Post-Offer Merger, the Triangular Merger will be implemented, pursuant to which: Altice Europe will merge with and into New Altice Europe BV (Company Sub); all assets, liabilities and legal relationships of Altice Europe are acquired by Company Sub; Altice Europe will cease to exist; and for each listed share, Altice Europe shareholders will receive one share of the same class in Altice Europe Holdco BV (Company Holdco). The Triangular Merger will become effective on 27 January 2021. Immediately after the Triangular Merger becomes effective, Company Holdco will sell and transfer to Next Private the issued share in Company Sub and will be subsequently dissolved.

Netherlands, Altice Europe