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Exhibit 99
Exhibit (a)(5)(xii)
PRESS RELEASE
Tender Offer for Carey International, Inc.
Common Stock Completed
WASHINGTON, D.C., Sept. 20 /PRNewswire/ -- Carey International, Inc. (Nasdaq:
CARY - news) and Aluwill Acquisition Corp., an entity that is affiliated with
Chartwell Investments II and Ford Motor Company, today announced the successful
completion of the cash tender offer for all outstanding shares of common stock
of Carey International, Inc. The tender offer, which commenced on August 3,
2000, expired at 4:30 p.m. New York City time on Tuesday, September 19, 2000
The offerors have been advised by United States Trust Company of New York, the
Depositary for the tender offer, that a total of 9,765,599 shares of Carey
International common stock had been validly tendered and not withdrawn
(including guaranteed deliveries) prior to the expiration of the offer. The
number of shares tendered and not withdrawn represents approximately 99% of the
outstanding shares of Carey International. Payment for these shares will be made
promptly.
The offerors will complete the acquisition of Carey International on or about
September 20, 2000 through a short-form merger in which shares of common stock
not tendered will be converted into the right to receive $18.25 per share in
cash. A letter of transmittal to be used for surrendering certificates in
exchange for the cash payment will be sent to holders who did not tender their
shares in the offer.
Vincent A. Wolfington, Chairman and CEO of Carey International stated, "We
believe that this transaction is very positive for Carey International and its
stockholders. A cornerstone of Carey International's strategy is relationship
marketing, and thus, we welcome the opportunity to solidify our longstanding
strategic relationship with Ford Motor Company. We also are eager to partner
with Chartwell and look forward to benefiting from their experience in
developing growth companies.
Todd Berman, President of Chartwell, commented, "We are excited about our new
business relationship with Carey International's management team and Ford's
participation as a minority shareholder. Carey International is a unique
franchise - the undisputed leader in chauffeured vehicle services worldwide. The
growth of the travel industry, coupled with the company's outstanding reputation
for superior service, should enable Carey International to sustain its record of
double-digit earnings growth. Chartwell is very enthusiastic about this
opportunity."
ABOUT CHARTWELL INVESTMENTS II
Chartwell is a New York City based private equity firm which invests in growth
financings and management buyouts of leading middle market companies. Chartwell
recently completed the
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$200 million acquisition of Playcore, Inc., a major playground equipment and
backyard products company, as well as the $340 million recapitalization of Bell
Sports Corp., the foremost company in bicycle helmets and accessories.
ABOUT FORD MOTOR COMPANY
Ford Motor Company is a Delaware corporation that designs and manufactures cars
and trucks and sells them throughout the world.
ABOUT CAREY INTERNATIONAL, INC.
Carey International is the world's largest chauffeured vehicle services company.
The company provides chauffeured sedan, limousine, van and minibus service
through a worldwide network of owned and operated companies, licensees and
affiliates serving 480 cities in 75 countries.
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