RNS Number : 8855A
CVC Capital Partners Limited
16 October 2009
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION.
Statement in Relation to National Express Group plc ("National Express" or the "Company")
16 October 2009
National Express announced on 3 September 2009 that funds advised by CVC Capital Partners and interests of the Cosmen family (together, the "Consortium") had made a final proposal to acquire the entire issued and to be issued share capital of National Express. The Consortium has subsequently decided not to make an offer for National Express.
It is now the intention of the Cosmen family to support the Company's plans to undertake an equity fundraising within certain parameters that the Cosmen family has communicated to the Board of National Express.
For the purposes of Rule 2.8 and other relevant provisions of The City Code on Takeovers and Mergers (the "Code"), the Consortium, and each individual member of the Consortium, reserves the right to announce an offer or possible offer or make or participate in an offer or possible offer for National Express within the next 6 months: (i) with the agreement or recommendation of the board of National Express; (ii) in the event that a third party announces a firm intention to make an offer for National Express; or (iii) in the event that National Express announces a "whitewash" proposal or a reverse takeover (in each case as defined in the Code).
Citigroup Global Markets Limited
+44 207 986 4000
+44 207 404 5959
Citigroup Global Markets Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting as financial adviser to the Consortium only and to no one else in connection with this announcement and will not be responsible to anyone other than the Consortium for providing the protections afforded to clients of Citigroup Global Markets Limited nor for providing advice in connection with this announcement or any matter referred to herein.
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