Mexico Privcap Video: Energy Reform Fuels Mexican Investment Opportunities
July 19, 2007
The subsequent offering period expired at 5:00 p.m., New York City time, on Wednesday, July 18, 2007. Based on preliminary information from the depositary for the offer, as of the expiration of the subsequent offering period at 5:00 p.m. on July 18, 2007, Laureate stockholders had tendered 15,858,125 shares of Laureate common stock (including guaranteed deliveries) during the subsequent offering period. Combined with shares tendered during the initial offering period, a total of 46,524,370 shares of Laureate common stock were tendered pursuant to the offer, which represent approximately 89% of the outstanding shares.
The investor group intends to exercise the “top-up” option granted pursuant to the amended and restated merger agreement among Laureate, L Curve, and Wengen Alberta, Limited Partnership pursuant to which Laureate has agreed to issue newly issued shares to L Curve or its assignee in an amount sufficient to achieve 90% ownership and permit the completion of a “short-form” merger under applicable Maryland law, without a vote of the stockholders of Laureate. Accordingly, the investor group will acquire the remaining shares of Laureate common stock through a short-form merger in which all remaining Laureate stockholders who did not tender their shares in the tender offer will receive the same $62.00 per share in cash paid in the tender offer. Stockholders will receive relevant information in the mail on how to receive payment for their shares.
L Curve and M Curve are controlled by an investor group led by Mr. Becker. The group includes Kohlberg Kravis Roberts & Co. (KKR); Citi Private Equity; S.A.C. Capital Management, LLC; SPG Partners; Bregal Investments; Caisse de dépôt et placement du Québec; Sterling Capital; Makena Capital; Torreal SCRRS S.A.; Brenthurst Funds; Vulcan Capital; and others.
Forward−Looking Statements: This release includes certain forward−looking statements. Any such forward−looking statements may involve risk and uncertainties. These forward-looking statements appear throughout the release and include statements regarding the intent, belief or current expectations of L Curve Sub Inc. and M Curve Sub Inc., including statements concerning the plans of L Curve Sub Inc. and M Curve Sub Inc. with respect to the acquisition of all of the Company's common stock. Such forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties. Actual results may differ materially from those described in such forward-looking statements as a result of various factors. Many of the factors that will determine the outcome of the subject matter of this press release are beyond the ability of L Curve Sub Inc. and M Curve Sub Inc. to control or predict. L Curve Sub Inc. and M Curve Sub Inc. undertake no obligation to revise or update any forward−looking statements, or to make any other forward−looking statements, whether as a result of new information, future events or otherwise.