21
October
2005
|
04:27
Europe/Amsterdam

Successful share offering - Kuehne + Nagel free float increases to 41 per cent

Following the announcement of the acquisition of European logistics company ACR Logistics on October 17, 2005 partly financed by the sale of treasury shares, Kuehne + Nagel announces today the successful offering of 1.7 million shares.

The 1.7 million treasury shares (7.1 per cent of Kuehne + Nagel’s share capital) were offered to institutional investors. The offering has been priced at CHF 295,50 per share.

The successful share offering, which generated strong interest from institutional investors, increases the free float of the company from 34 to 41 per cent.

Kuehne + Nagel had engaged Deutsche Bank, Frankfurt and UBS Investment Bank, Zurich as joint bookrunners. Closing of the transaction is planned for October 26, 2005.