-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DQH6pJ2xE3MpKUj9SYYTB2wv1hpSvBU7jUGWJe10MJztunASAKeynZQRdJv56Bua iAKsQ4sUqCh0+pQct1Q7Hg== 0001341004-07-002256.txt : 20070802 0001341004-07-002256.hdr.sgml : 20070802 20070802120244 ACCESSION NUMBER: 0001341004-07-002256 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 6 FILED AS OF DATE: 20070802 DATE AS OF CHANGE: 20070802 GROUP MEMBERS: IRP HOLDINGS LIMITED GROUP MEMBERS: SCOR GLOBAL P&C S.A. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CONVERIUM HOLDING AG CENTRAL INDEX KEY: 0001162586 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-51262 FILM NUMBER: 071019186 BUSINESS ADDRESS: STREET 1: BAARERSTRASSE 8 STREET 2: ZUG CITY: SWITZERLAND 6300 STATE: V8 ZIP: 00000 BUSINESS PHONE: 4116399999 MAIL ADDRESS: STREET 1: GENERAL GUISAN QUAI 26 STREET 2: ZURICH CITY: SWITZERLAND 8022 STATE: V8 ZIP: 00000 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SCOR CENTRAL INDEX KEY: 0001023027 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1 AVENUE DU PRESIDENT WILSON STREET 2: LA DEFENSE CEDEX CITY: PARIS FRANCE STATE: I0 ZIP: 92074 SC 13D/A 1 scor_sc13da.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)*

 

CONVERIUM HOLDING AG

(Name of Issuer)

 

Registered Shares

(Title of Class of Securities)

 

7248256

(Cusip Number)

François de Varenne

Head of Corporate Finance and Asset Management

SCOR SE

1, avenue du Général de Gaulle

92 074 Paris – La Défense Cedex

France

Tel. No.: + 33 1 46 98 00 00

(Name, Address and Telephone Number of

Person Authorized to Receive Notices

and Communications)

August 2, 2007

(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box: o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 



 

 

1

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

SCOR SE

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(SEE INSTRUCTIONS)

(a) x

(b) o

3

SEC USE ONLY

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

WC; OO

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

o

6

CITIZENSHIP OR PLACE OF ORGANIZATION

FRANCE

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

7

SOLE VOTING POWER

141,289,703

8

SHARED VOTING POWER

0

9

SOLE DISPOSITIVE POWER

141,289,703

10

SHARED DISPOSITIVE POWER

0

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

141,289,703

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

o

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

96.3%

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

IC; CO

 

 

 



 

 

1

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

SCOR Global P&C S.A.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(SEE INSTRUCTIONS)

(a) x

(b) o

3

SEC USE ONLY

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

OO

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

o

6

CITIZENSHIP OR PLACE OF ORGANIZATION

FRANCE

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

5,400,000

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

5,400,000

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

5,400,000

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

o

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

3.7%

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

CO

 

 

 



 

 

1

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

IRP Holdings Limited

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(SEE INSTRUCTIONS)

(a) x

(b) o

3

SEC USE ONLY

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

OO

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

o

6

CITIZENSHIP OR PLACE OF ORGANIZATION

REPUBLIC OF IRELAND

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH

7

SOLE VOTING POWER

0

8

SHARED VOTING POWER

6,800,000

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

6,800,000

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

6,800,000

12

CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

o

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

4.6%

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

CO

 

 

 



 

 

This Amendment No. 7 amends and supplements the Statement on Schedule 13D filed with the Commission on February 20, 2007, as amended on February 26, 2007, April 27, 2007, May 11, 2007, July 10, 2007, July 13, 2007 and July 27, 2007 (the “Schedule 13D”), by SCOR SE, a societas europaea organized under the laws of the Republic of France (“SCOR”), SCOR Global P&C S.A., a société anonyme organized under the laws of the Republic of France and a wholly-owned subsidiary of SCOR (“SCOR Global P&C”), and IRP Holdings Limited, a single member private company limited by shares organized under the laws of the Republic of Ireland and a wholly-owned subsidiary of SCOR (“IRP” and, together with SCOR and SCOR Global P&C, the “Reporting Persons”), with respect to the registered shares, par value CHF 5 per share (the “Shares”), of Converium Holding AG, a corporation organized under the laws of Switzerland (the “Issuer”). The principal executive offices of the Issuer are located at General Guisan-Quai 26, CH-8002, Zurich, Switzerland. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Schedule 13D.

Item 3. Source and Amount of Funds or Other Consideration

SCOR will purchase the Shares pursuant to the Offer using SCOR’s internal funds and SCOR Shares. SCOR intends to re-finance all or part of the cash portion by means of senior and/or subordinated debt.

Item 4. Purpose of Transaction

On April 5, 2007, SCOR published a tender offer in Switzerland (the “Offer”) for all the publicly held outstanding Shares of the Issuer not owned or otherwise secured by SCOR. Pursuant to the Offer, as amended June 12, 2007, SCOR offered to acquire each Share for 0.5 SCOR Share, CHF 5.50 in cash, and an amount of EUR 0.40 in cash (collectively, the “Offer Price”), equal to 50% of the amount of the dividend paid per SCOR Share for the business year 2006, to be converted to CHF at the exchange rate EUR/CHF applicable on the day preceding the settlement of the Offer. In addition, the Offer Price will not be reduced by the amount of the dividend of CHF 0.20 per Share resolved by the shareholders’ meeting of Converium on May 10, 2007.

 

The Offer, which opened on June 12, 2007, expired July 9, 2007 with 53.1% of all Converium Shares tendered into the Offer. The additional acceptance period of ten trading days commenced July 13, 2007 and expired July 26, 2007. The definitive final result indicates that an additional 15,032,037 Converium Shares representing 10.2% of all Converium Shares have been tendered into the Offer during the additional acceptance period. The settlement of the Offer is scheduled to take place on August 8, 2007, unless delayed due to conditions subsequent.

 

The press release announcing the definitive final result is filed as Exhibit 1 to this Schedule 13D.

Item 7. Material to be Filed as Exhibits

The following is filed as an exhibit to this statement:

Exhibit 1: Press release announcing the definitive final result of the public tender offer by SCOR SE for all publicly held registered shares of Converium Holding AG

 



 

 

SIGNATURES

After reasonable inquiry and to the best knowledge and belief of each of the undersigned, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Date: August 2, 2007

 

 

 

SCOR SE

 

 

 

By:

/s/ Denis Kessler

 

 

Name: Denis Kessler

 

 

Title: Chairman and Chief Executive Officer

 

 

 

SCOR Global P&C S.A.

 

 

 

By:

/s/ Denis Kessler

 

 

Name: Denis Kessler

 

 

Title: Chairman

 

 

 

 

IRP Holdings Limited

 

 

 

By:

/s/ Patrick Thourot

 

 

Name: Patrick Thourot

 

 

Title: Chairman

 

 

 

 

 

 

EX-99 2 scor_exh-1.htm EXH. 1 -- PRESS RELEASE

Exhibit 1


 

 

 

 

 

 

Press Release

(p. 1/4)

02 August 2007

N° 38 – 2007

 

 

For further information, please contact:

 

 

Godefroy de Colombe

+33 (0)1 46 98 73 50

 

Director for Public Affairs

 

 

 

 

 

Jim Root

+33 (0)1 46 98 72 32

 

Director for Investor Relations

 

 

 

Great success of the Offer: SCOR would own

96.23% of Converium

 

As part of the additional acceptance period of SCOR SE’s (“SCOR”) public offer for Converium’s Holding AG (“Converium”) publicly held shares (“the Offer”), which opened on July 13, 2007 and was closed on July 26, 2007, 15,032,037 additional Converium shares have been tendered to the Offer, i.e. 10.25% of Converium shares. Together with the 48,320,350 Converium shares already owned by the SCOR Group and the 77,937,316 Converium shares tendered during the initial period of the Offer, SCOR would hold 96.32% of Converium’s share capital in the aggregate.

 

Subject to the applicable conditions subsequent set forth in the Offer prospectus published on April 5, 2007, as amended on June 12, 2007, the settlement and delivery of the Offer is scheduled to take place on August 8, 2007.

 

The general assembly of Converium shareholders will be held on 30 August 2007, in order to install the new Board of Directors of Converium as well as the new management structures. The SCOR Group, which is finalizing its new underwriting plan, will be fully ready in time for the Monte Carlo Rendez-Vous.

*

**

 

 

Indicative Timetable of the Offer

 

 

 

 

 

Settlement Date:

August 8, 2007

 

 

 

 

Communication timetable

 

 

 

 

 

2007 First Half Results

29 August 2007

 

Dynamic Lift V2

First week of September

 

 

SCOR SE

1, av. du Général de Gaulle

92074 Paris La Défense Cdx

France

Tél + 33 (0) 1 46 98 70 00

Fax + 33 (0) 1 47 67 04 09

www.scor.com

RCS Nanterre B 562 033 357

Siret 562 033 357 00020

Société Européenne au Capital

de 1 073 176 964,97 Euros

 



 

 

 

 

 

 

 

Press Release

(p. 2/4)

02 August 2007

N° 38 – 2007

 

 

 

This communication does not constitute an offer to sell or to purchase securities, nor a solicitation of an offer to sell or to purchase securities, whether in the context of the public tender offer in Switzerland by SCOR on the shares of Converium Holding AG (“Converium”) with a nominal value of CHF 5 each (the “Tender Offer”) or otherwise in France or in any jurisdiction where such offer, solicitation, sale or the acceptance of such offer may be unlawful. It does also not constitute a recommendation to sell or buy shares in SCOR or Converium.

The Offer Prospectus (the "Offer Prospectus") and its amendment (the “Amendment”) contains the terms and conditions of the Tender Offer, including the scope of the Tender Offer, the way the Tender Offer can be accepted and the restrictions applicable to the Tender Offer in some countries. The Tender Offer is subject to all the terms and conditions set forth in the Offer Prospectus.

 

The Tender Offer made to the shareholders of Converium and the Offer Prospectus and its Amendment which have been filed with the Swiss Take Over Board and published on Bloomberg and in Le Temps and Neue Zürcher Zeitung in Switzerland on April 5, 2007 and June 12, 2007 respectively have been exclusively prepared under Swiss law and are subject to review and supervision by Swiss authorities only. The Tender Offer is not subject to any formality, registration or approval outside Switzerland (except for the share offering circular (the “Admission Prospectus”), the first supplemental note (the “First Supplemental Note”) and the second supplemental note (the “Second Supplemental Note”) relating to the new SCOR shares to be issued in consideration to Converium shareholders’ contributions of their shares to the Tender Offer (the “New SCOR Shares”)). The Tender Offer will not be made and may not be accepted in any jurisdiction where it breaches applicable law or where the applicable law requires SCOR in any way to change the Tender Offer, to submit an additional application to any authorities or other institutions, or to take any additional actions in connection with the Tender Offer (including, without limitation, Japan). SCOR shall not accept and shall have no obligation to accept any tenders made in connection with the Tender Offer from any such jurisdiction. It is not intended to extend the Tender Offer to any such jurisdictions. Documents related to the Tender Offer may neither be distributed in nor sent into such jurisdictions. Such documents do not constitute and may not be used to solicit an offer to sell or to purchase securities by any persons in such jurisdictions. In addition, the delivery of the New SCOR Shares may be subject, in certain jurisdictions, to specific regulations or restrictions. The Tender Offer is not addressed to persons subject to such restrictions, either directly or indirectly. Persons in possession of the Offer Prospectus or any other document relating to the Tender Offer are required to obtain information about any local restriction that may apply and comply therewith. SCOR disclaims any liability for any violation of any applicable restrictions by any person.

The Admission Prospectus, the First Supplemental Note and the Second Supplemental Note have been approved by the French Autorité des Marchés Financiers (the “AMF”) on April 10, 2007, April 23, 2007 and June 12, 2007 respectively. These documents are available without charges at SCOR’s

 

SCOR SE

1, av. du Général de Gaulle

92074 Paris La Défense Cdx

France

Tél + 33 (0) 1 46 98 70 00

Fax + 33 (0) 1 47 67 04 09

www.scor.com

RCS Nanterre B 562 033 357

Siret 562 033 357 00020

Société Européenne au Capital

de 1 073 176 964,97 Euros

 



 

 

 

 

 

 

 

Press Release

(p. 3/4)

02 August 2007

N° 38 – 2007

 

 

 

corporate headquarters, 1, avenue du Général de Gaulle, 92 800 Puteaux, France, on SCOR’s website and on the AMF’s website. Copies of these documents will be addressed without charge upon request.

 

U.S. Restrictions

This communication does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States or to or from U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) and the Tender Offer will not be made in or into the United States and may not be accepted by U.S. persons or persons in the United States. Accordingly, copies of this communication are not being made available and should not be mailed or otherwise distributed or sent in, into or from the United States, and persons receiving this communication, the Offer Prospectus or any other documents relating to the Tender Offer (including custodians, nominees and trustees) must not distribute or send them into or from the United States. Shareholders of Converium who accept the Tender Offer will, unless otherwise agreed by SCOR, be deemed to certify they are not located in the United States and are not US Persons.

 

U.K. Restrictions

This communication is to be directed only at persons in the U.K. who (a) have professional experience in matters relating to investments, (b) are falling within Article 49 (2) (a) to (d) (“high net worth entities, unincorporated associations, etc”) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, or (c) to whom they may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). In the U.K., copies of this communication are not to be acted on or relied on by persons who are not relevant persons. In the U.K., any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.

 

Forward looking statements

SCOR does not communicate “profit forecasts” in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission. Thus, any forward looking statements, contained in this paragraph, should not be held as corresponding to such profit forecasts. Information in this communication relating to the Tender Offer include “forward-looking statements”, including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact. Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could." Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, including

 

SCOR SE

1, av. du Général de Gaulle

92074 Paris La Défense Cdx

France

Tél + 33 (0) 1 46 98 70 00

Fax + 33 (0) 1 47 67 04 09

www.scor.com

RCS Nanterre B 562 033 357

Siret 562 033 357 00020

Société Européenne au Capital

de 1 073 176 964,97 Euros

 



 

 

 

 

 

 

 

Press Release

(p. 4/4)

02 August 2007

N° 38 – 2007

 

 

 

the risk that the combination of SCOR and Converium might not be consummated. The following factors, among others, may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand: the costs related to the transaction; the inability to obtain, or meet conditions imposed by, the required governmental and regulatory approvals and consents; the risk that the businesses of SCOR and Converium will not be integrated successfully; other risks and uncertainties affecting SCOR and Converium including, without limitation, the risk of future catastrophic events, economic and market developments, regulatory actions and developments, litigations and other proceedings.

 

This list is not exhaustive. Please refer to SCOR’s document de référence filed with the AMF on April 10, 2007 under number D.07-0294 for a description of certain additional important factors, risks and uncertainties that may affect the business of the SCOR group and to para. 2 of the Admission Prospectus, para. 2.1 of the First Supplemental Note, para. 2.1 of Second Supplemental Note for certain specific risk factors relating to the transaction.

 

 

SCOR SE

1, av. du Général de Gaulle

92074 Paris La Défense Cdx

France

Tél + 33 (0) 1 46 98 70 00

Fax + 33 (0) 1 47 67 04 09

www.scor.com

RCS Nanterre B 562 033 357

Siret 562 033 357 00020

Société Européenne au Capital

de 1 073 176 964,97 Euros

 

 

 

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-----END PRIVACY-ENHANCED MESSAGE-----