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Switzerland: Regulators’s concerns remain over $1.4 billion Kuoni bid terms

By  |  March 31, 2016

Switzerland’s takeover regulator still has concerns about some terms of Swedish private equity firm EQT’s takeover of travel group Kuoni and rejected an appeal by a major shareholder over a planned share swap associated with the deal.

EQT declined to comment on the takeover board’s decision and how that might affect its offer for the ailing travel group, which has been hit by competition from online travel companies and unrest in popular tourist destinations.

The shareholder, the Kuoni und Hugentobler Foundation, said in a statement that it was still deciding whether to challenge the board’s ruling, announced on Thursday, but said it expected the $1.41 billion deal unveiled last month to go ahead as planned.

Under Swiss takeover regulations, the foundation has five trading days to decide whether to accept the board’s decision or pursue the matter further.

Full Content: Reuters

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