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Document Preview BCP Crystal Acquisition GmbH & Co. KG and Celanese AG Granted Advance Ruling Certificate in Canada |
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Title: |
BCP Crystal Acquisition GmbH & Co. KG and Celanese AG Granted Advance Ruling Certificate in Canada |
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Entities: |
BCP Crystal Acquisition GmbH & Co. KG; Celanese AG; Vermont Department of Banking, Insurance, Securities and Health Care Administration |
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Date: |
2004 |
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Size: |
2KB total |
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Price: |
$37 |
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ID: |
#210953 |
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PRESS RELEASE
BCP Crystal Acquisition GmbH & Co. KG and Celanese AG granted Advance Ruling Certificate in Canada
March 1, 2004.
BCP Crystal Acquisition GmbH & Co. KG (the Bidder) has been notified that it has been granted an Advance Ruling Certificate in Canada for its acquisition of Celanese AG. The Bidder also announced that it has received the approval of the Vermont Department of Banking, Insurance, Securities and Health Care Administration in connection with the change in ultimate beneficial ownership of Celwood Insurance Company, a subsidiary of Celanese AG. The grant of the Advance Ruling Certificate and the receipt of the approval of the Vermont insurance regulatory authority satisfy two of the conditions necessary for the Bidder to consummate its tender offer for Celanese AG. The Bidder has previously been granted early termination of the waiting periods under the Hart-Scott-Rodino Act. Consummation still remains subject to certain other conditions, including at least 85% of the outstanding registered ordinary shares of Celanese AG being tendered into the offer.
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