Lausanne – At the beginning of September 2020, Merion Capital1 and Knight Vinke2 had each filed an appraisal claim against Alpiq Holding Ltd. pursuant to art. 105 Merger Act. This was with the aim of having the amount of the compensation paid in the squeeze-out merger reviewed by the court. Alpiq and Merion Capital have now reached an out-of-court settlement, to avoid further costs relating to the proceeding. The principle and amount of the compensation paid to the minority shareholders are not affected by the settlement.
Knight Vinke maintains its claim and continues to demand a higher compensation. Alpiq remains of the opinion that the compensation payment was adequate and remains confident about the outcome of the proceeding initiated by Knight Vinke.
At the time of the delisting of the former Alpiq Holding Ltd., Knight Vinke had a shareholding well below the first reporting threshold of 3 per cent. Merion Capital's shareholding was slightly above the second reporting threshold of 5 per cent.
Previous information from Alpiq on the compensation merger:
Media release dated 09/04/2020 – Squeeze-out merger: Compensation review proceedings filed
Media release dated 06/24/2020 – General Meetings of Alpiq and of Alpha approve squeeze-out merger
1) Merion Capital LP, Merion Capital ERISA LP and Merion Capital II LP
2) KVIP International V L.P.