Westway and EQT Infrastructure II Announce Successful Completion of Acquisition of Westway
01 Febrero 2013 - 6:30AM
Westway Group, Inc. (Nasdaq:WWAY) ("Westway") and EQT
Infrastructure II ("EQT") today announced the successful
consummation of the previously announced merger of EQT's
wholly-owned affiliate, Bishop Infrastructure III Acquisition
Company, Inc., with and into Westway.
Under the terms of the merger agreement and as a result of the
merger, each share of capital stock of Westway remaining
outstanding after the consummation of EQT's tender offer for all of
the capital stock of Westway was converted into the right to
receive an amount equal to $6.70 in cash, without interest thereon
and less any required withholding taxes (the "Merger
Consideration"). As a result of the merger, Westway is a
wholly-owned affiliate of EQT.
Continental Stock Transfer and Trust Company, as exchange agent
for the merger, will mail letters of transmittal to all Westway
stockholders of record immediately prior to the merger with
instructions on how to surrender their shares in exchange for the
Merger Consideration. Westway stockholders should not surrender
their shares until they have reviewed the instructions in the
letter of transmittal or contacted their banks or brokers to
determine what actions they must take to receive the Merger
Consideration.
Contact: |
Glen T. Matsumoto +1 914 607
4502 |
Partner at EQT Partners, |
Investment Advisor to EQT
Infrastructure II |
EQT Press Department +46 8 506
55 334 |
|
Thomas A. Masilla, Jr. |
Chief Financial Officer,
Westway Group, Inc. |
(504) 636-4245 |
Forward Looking Statements
Information provided and statements contained in this press
release that are not purely historical, such as statements
regarding future business plans and prospective performance and
opportunities are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements
only speak as of the date of this press release, and Westway, EQT
and their respective affiliates assume no obligation to update the
information included in this press release. Statements made in this
press release that are forward-looking in nature may involve risks
and uncertainties. Accordingly, readers are cautioned that any such
forward-looking statements are not guarantees of future performance
and are subject to certain risks, uncertainties and assumptions
that are difficult to predict, including, without limitation, the
risk that business disruption relating to the merger may be greater
than anticipated and other specific risk factors discussed herein
and in other releases and public filings made by Westway. Although
Westway, EQT and their respective affiliates believe that the
expectations reflected in such forward-looking statements are
reasonable as of the date made, expectations may prove to have been
materially different from the results expressed or implied by such
forward-looking statements. Unless otherwise required by law,
Westway, EQT and their respective affiliates also disclaim any
obligation to update their view of any such risks or uncertainties
or to announce publicly the result of any revisions to the
forward-looking statements made in this press release.
About EQT
EQT is the leading private equity group in
Northern Europe with approximately EUR 20 billion in raised capital
and multiple investment strategies. Together with an extensive
network of independent Industrial Advisors, EQT implements its
investment strategy by acquiring or financing good medium-sized to
large companies in Northern and Eastern Europe, Asia and the United
States, supporting their development into leading companies.
Development is achieved by an industrial strategy with focus on
growth. Since inception, EQT has invested more than EUR 11 billion
in around 100 companies and exited close to 50. EQT-owned companies
have more than 550,000 employees.
EQT Infrastructure II is the second fund within
the infrastructure investment strategy. The first fund closed in
2008 at approximately EUR 1.2 billion. EQT Infrastructure II seeks
to invest in medium-sized infrastructure companies with a
significant opportunity for value creation through accelerating
growth and implementing operational improvements. Potential
investment targets are basic infrastructure, concession-based
infrastructure and infrastructure-related services.
EQT Partners, acting as Investment Advisor to
the general partners and managers of each EQT fund, has around 120
investment professionals with an extensive industrial and financial
competence. EQT Partners and its affiliates have offices in
Copenhagen, Frankfurt, Helsinki, Hong Kong, Oslo, London, Munich,
New York, Shanghai, Singapore, Stockholm, Warsaw and Zurich.
More information can be found on www.eqt.se
About Westway
Westway is a premier provider of storage and
related services to owners of bulk liquid products worldwide. The
business has over 330 million gallons of storage capacity through a
global network of 19 terminal locations including 14 in the U.S., 1
in Canada and 4 in Europe. The business is focused on niche liquid
products and customized service offerings with strong margin
potential and has a leading market position in the agricultural and
chemical commodity sectors. Key products stored include petroleum
oils, caustics, asphalts, vegetable oils, methyl esters, chemicals
and molasses products, among others.
The Westway Group, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7654
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