The Dexia Group, via Dexia BIL, makes a public offer on Dutch bank Kempen & Co

Dexia Banque Internationale à Luxembourg (Dexia BIL) is announcing that it has reached an agreement with the Dutch merchant bank Kempen & Co to make a public offer on all outstanding ordinary shares of Kempen & Co. Kempen & Co's Board of Management and Supervisory Board unanimously support the offer. The offer price is 83.50 euros per share, payable in cash.

At the offer price, Kempen & Co is valued at 16 times its year 2000 net profit and 4.75 times shareholders' equity at 31/12/2000. The premium amounts to +36% on the 61.28-euro average market price over the last 40 business days preceding 22 May 2001, the day of the public announcement of the offer.

The timetable for the offer is as follows:

  • Publication of offer document 20 June 2001
  • Start offer period 21 June 2001
  • Offer closing date (unless the offer is extended) 19 July 2001 (15:00 CET)

The offer document, containing all terms and conditions of the offer, will be available at Dexia BIL, Labouchere and Kempen & Co.

For further information

  • On Kempen & Co:
  • On Dexia BIL and Dexia
  • On the transaction: Françoise Lefebvre tel.: (+33) 1 43 92 80 20
    Guy Bertemes tel. : (+352) 4590 3879