029 Group SE

M&A Activity • Oct 26, 2004

News Details

Ad-hoc | 26 October 2004 18:06

EU Commission approves takeover of Phoenix AG

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– EU Commission approves takeover of Phoenix AG Continental AG advised Phoenix AG that today the European Commission has approved the merger between Continental AG and Phoenix AG. According to Continental AG’s statements, all suspensive conditions of the tender offer have now become effective and the offer can be executed. Regarding certain air springs and steel-cable conveyor belts, conditions have been attached to the approval. The Commission raised competitive concerns indicating that a dominant market position in these areas could result from the filed incorporation. To remove the concerns of the EU Commission, Continental AG gave the related sells commitments. More details are available in the press release on the web page http://www.phoenix-ag.com in the section “News” and “Investor Relations” respectively. end of ad-hoc-announcement (c)DGAP 26.10.2004 ——————————————————————————– WKN: 603100; ISIN: DE0006031008; Index: SDAX Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg und München; Freiverkehr in Stuttgart 261806 Okt 04