1&1 AG — M&A Activity 2007

Sep 21, 2007

News Details

Ad-hoc | 21 September 2007 22:40

Drillisch AG: Joint Strategic Participation with United Internet in freenet AG

Drillisch AG / Miscellaneous

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Joint Strategic Participation with United Internet in freenet AG

Maintal, 21 September 2007 – Drillisch Aktiengesellschaft (DE0005545503)
and United Internet AG today signed a participation agreement according to
which United Internet will participate in a joint venture company, to be
named MSP Holding GmbH with its seat in Saarbrücken ('MSP Holding GmbH').
Following the closing of the participation agreement, each company will
hold 50 % of the shares in MSP Holding GmbH, which in turn is the sole
shareholder of Einundsiebzigste Vermögensverwaltungsgesellschaft FKP mbH
with its seat in Saarbrücken, to be named as MSP Beteiligungsgesellschaft
mbH ('MSP GmbH'). On 22 August 2007 MSP GmbH, as a wholly-owned subsidiary
of Drillisch AG, entered into a share purchase agreement with Vatas
International B.V., Amsterdam, regarding the acquisition of 17,757,000
shares (representing approximately 18.49 % shares) in freenet AG,
Büdelsdorf ('freenet'). In addition, effective as of 21 September 2007,
Drillisch AG additionally contributed 5,778,000 (representing approximately
6.01 %) shares to MSP Holding GmbH.
As consideration for the participation in MSP GmbH an amount of EUR 151.3
million is provided by United Internet AG as a cash contribution and as a
shareholder loan. The participation by United Internet AG is, inter alia,
subject to approval by the antitrust authorities.
The participation agreement provides for put- and call options, rights of
first refusal and preemption rights for the parties and, until occurrence
of the conditions precedent, a right of withdrawal for each party.
The shareholders of the joint venture company are keeping all options open
to change the conditions in the holding and the participation in freenet
AG, in particular to increase the shareholding in freenet AG or to fully
acquire freenet AG. With this participation Drillisch is building a
strategic position on the German MSP market currently in the process of
consolidation. The move was prompted by the new strategy of freenet’s
management board to separate the company’s mobile telephony and fixed
line/internet business segments.

Drillisch AG
Executive Board

Contact:
Oliver Keil
Head of Investor Relations
Mail: ir@drillisch.de

21.09.2007 Financial News transmitted by DGAP

Language: English
Issuer: Drillisch AG
Wilhelm-Röntgen-Straße 1-5
63477 Maintal
Deutschland
Phone: +49 (0)6181 412 200
Fax: +49 (0)6181 412 183
E-mail: ir@drillisch.de
Internet: www.drillisch.de
ISIN: DE0005545503
WKN: 554550
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart

End of News DGAP News-Service

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