Ackermans & van Haaren raises its bid on GIB at EUR 43 per share

CNP supports the bid of AvH

In light of the recent acquisition by CNP of a participation of 11,85% in GB-INNO-BM (GIB) against a price of EUR 43 per share, the board of directors of AvH has decided to amend the bid to the benefit of the shareholders of GIB by increasing the price per ordinary and vvpr share of GIB, coupon nr 19 and following attached, to EUR 43.

The other terms and conditions of the bid, as mentioned in the notification of 13 September 2002 to the Banking and Finance Commission (among which, the fact that the bid is subject to the condition that at least 90% of the shares of GIB are offered for sale) remain unchanged.

In the framework of the bid, AvH and CNP have agreed to each acquire as much shares as necessary, taking into account the participation of 11,85% which CNP already has in GIB, to end up, in the event of a succesful bid, with an equal participation in GIB.

Today AvH has notified the Banking and Finance Commission of the aforementioned amendment of its bid.

(source: Ackermans & van Haaren)

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