With the publication of the Offer Memorandum today, and with reference to the joint press releases dated 25 February 2019 and 25 March 2019 by CACEIS S.A. and KAS BANK, CACEIS and KAS BANK hereby jointly announce that CACEIS is making a recommended public offer for all Securities of KAS BANK at an offer price of EUR 12.75 (cum dividend) in cash per Security.
26 jul 2019
Sikko van Katwijk, Chairman of the Managing Board of KAS BANK
“We are excited to announce the next step in the development of KAS BANK with the formal launch of the Offer today. At KAS BANK we service clients such as pension funds, insurance companies, wealth managers, asset managers, private family offices and investment companies. We will grow these market segments together with CACEIS, having much more power and scale together. We look forward to the integration of our businesses and becoming CACEIS’ global centre of excellence for the pension fund business, managing, expanding and innovating the offering in the Netherlands and across other international markets.
With CACEIS' track record, financial strength and way of doing business we believe the Offer secures the longer-term interests of KAS BANK, our shareholders, employees and customers in the best possible way."
Jean-François Abadie, CEO of CACEIS
"We are delighted to be taking these steps towards strengthening our market share in the Netherlands, Germany and the UK. This transaction is an excellent opportunity to bring significant pension fund servicing expertise into the CACEIS group, together with the professional staff who know the servicing needs of their institutional investor clients. Furthermore, with CACEIS’ extensive geographical footprint and broad scope of services, clients stand to benefit from being part of one of Europe’s largest asset servicing groups.
At every step in the process, clients are our number one priority. Leveraging our extensive migration experience, we will ensure uninterrupted client service and a smooth business migration once regulatory approvals are received."