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M&A Activity • May 12, 2015

News Details

Corporate | 12 May 2015 19:40

Capital Stage AG no longer part of the tendering process for the takeover of PROKON

DGAP-News: Capital Stage AG / Key word(s): Miscellaneous/Miscellaneous

2015-05-12 / 19:40

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Capital Stage AG no longer part of the tendering process for the takeover
of PROKON

Hamburg, 12 May 2015 - Capital Stage, the Hamburg-based, SDAX-listed
operator of solar- and wind-parks is no longer part of the tendering
process for the takeover of PROKON Regenerative Energien GmbH (PROKON),
based in Itzehoe, Schleswig-Holstein. The insolvency administrator today
notified Capital Stage AG of its decision after scrutinising all the
tenders submitted.

Capital Stage AG had announced its participation in the tendering process
for the takeover of PROKON last Friday, 8 May, 2015. Capital Stage had
explained its decision to enter the tendering process for PROKON - which is
also based in northern Germany - by the logical complement this would have
made to its own business model, that primarily focuses on the operation of
solar parks. On top of this, the takeover was viewed as an opportunity for
PROKON to remain part of a company which is devoted entirely to
regenerative energy.

"We regret this decision", noted Felix Goedhart, CEO of Capital Stage AG.
"With the existing wind power business plus the expertise of PROKON's
personnel in this field we would have liked to reinforce our position as a
strong, independent solar park and wind farm operator and pure renewable
energy enterprise", Goedhart added.

Dr. Christoph Husmann, CFO of Capital Stage AG, commented: "Our takeover
bid was based on our own market-oriented valuation of PROKON's existing
business in the wind segment, and therefore represents the maximum offer we
were prepared to make. As an independent, listed company we are obliged to
act with particular commercial prudence in the interests of our exclusively
private shareholders. We would have been delighted to integrate PROKON into
our business model - but not at any price."

Capital Stage will continue its dynamic growth path in the upcoming months
independently from todays decision. The company currently reviews further
projects in the solar- and wind segment totalling more than 200 MW in
Germany and abroad. The company currently has investment capital of some
EUR 100 million available for further transactions. Including the usual
leverage at project level this represents a total investment volume of
about EUR 400 million. Capital Stage therefore expects to increase its
total generating capacity to around 600 MW at the end of 2015.

About Capital Stage AG:
Since 2009, Capital Stage has acquired solar power plants and wind parks in
Germany, France, Italy and the UK with a capacity of about 450 MWp, making
it Germany's largest operator of solar parks. Its solar and wind parks
generate attractive returns and continuous revenues, while offering a
moderate level of investment risk.

Capital Stage AG is listed in the regulated market (Prime Standard) of the
Frankfurt Stock Exchange and in the regulated market of the Hanseatic Stock
Exchange Hamburg (ISIN: DE0006095003 / WKN: 609500). The shares of Capital
Stage AG have been listed in the Deutsche Börse selective index SDAX since
March 2014.

For more information, visit www.capitalstage.com

Contact:
Capital Stage AG
Till Giessmann
Head of Investor & Public Relations
Phone: + 49 (0)40 37 85 62-242
Fax: + 49 (0)40 37 85 62-129
e-mail: till.giessmann@capitalstage.com

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2015-05-12 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Capital Stage AG
Große Elbstraße 45
22767 Hamburg
Germany
Phone: +49 4037 85 62 -0
Fax: +49 4037 85 62 -129
E-mail: info@capitalstage.com
Internet: www.capitalstage.com
ISIN: DE0006095003
WKN: 609500
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg;
Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart

End of News DGAP News-Service

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