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M&A Activity • Nov 28, 2011

News Details

Corporate | 28 November 2011 07:00

ARAGON AG: Aragon AG signs contract to sell its shares in biw Bank für Investments und Wertpapiere AG to its co-shareholder XCOM Finanz GmbH

ARAGON AG / Key word(s): Miscellaneous

28.11.2011 / 07:00

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• Aragon AG signs contract to sell its shares in biw Bank für Investments
  und Wertpapiere AG to its co-shareholder XCOM Finanz GmbH

• Aragon to receive cash funds in double-digit million range

• Strategic focusing upheld at Aragon AG

Aragon AG, one of the leading financial services companies in
German-speaking countries, has signed a contract to sell 62 percent of the
share capital in biw Bank für Investments und Wertpapiere AG, Willich,
(biw) to its existing co-shareholder XCOM Finanz GmbH, Willich, (XCOM). In
advance of this deal, Aragon signed a contract with AXA Krankenversicherung
AG (AXA) to take over 15 percent of the shares in biw. These shares have
now been sold as a package to XCOM. All of the respective contractual
agreements are subject to conditions precedent expected to be fulfilled no
later than the first quarter of next year.

biw was founded in 2005 as a spin-off from XCOM Bank AG by its shareholders
Aragon and XCOM. biw can look back on a unique success story over the six
years since its foundation. The company already posted positive earnings
for its first full financial year, while its customer assets exceeded the
one billion euro mark in September 2007. In March 2010, biw welcomed its
100,000th customer. In the third quarter of 2011, biw handled around 1.5
million transactions and could boast around 160,000 account holders in
total with deposit and investment volumes of Euro 3.5 billion - figures
which are very close to the market leaders comdirect and DAB.

Comments Ralph Konrad, COO of Aragon AG and Deputy Supervisory Board
Chairman of biw, with regard to the planned transaction: 'The sale of the
shares in biw to XCOM, which will in future own 100% of biw, follows the
focussed strategy of Aragon. Aragon will concentrate even more closely on
its core investments in future, and thus on financial advisory services and
sale. Irrespective of this, we are very proud to have been able to build up
biw from its inception through to the present time. We are convinced, biw
will - given the new shareholder structure - proceed the success story in
the future.'

Upon completion of the transaction, Aragon will receive cash funds in a
double-digit million range, part of which will be used to prematurely repay
non-current liabilities. The parties have agreed to maintain
confidentiality concerning the exact purchase price.

Aragon's key operating figures will not be affected by the sale of the biw
shares and resultant discontinuation of the Banking division.
Aragon AG plans to publish its results for the third quarter and first nine
months of the 2011 financial year on 30 November 2011.

About Aragon AG

Aragon AG is a broadly diversified financial services group with two
operating segments, Broker Pools and Financial Consulting, and a Holding
division. Within its segments, Aragon AG operates in the market with
several independently acting subsidiaries. The aim is to integrate various
sales models under one roof without infringing on the identity of each
individual sales operation. This leads to broad diversification across
numerous asset classes and distribution channels and, as a result, ensures
high earnings stability. Further information about the company and its
subsidiaries can be found at www.aragon.ag.

About biw Bank für Investments und Wertpapiere AG

biw Bank für Investments und Wertpapiere AG is high-tech bank offering
innovative services. As a product and process service provider, it offers
extensive white-label services and technical banking expertise to other
organisations (e.g. financial services providers and intermediaries). biw
does not maintain direct links to its end customers, but leaves the
management and supervision of customer relationships to its partners. This
enables its partners to offer a whole range of banking services. biw
guarantees the availability of proven, up-to-date banking technology,
compliance with all regulatory requirements and membership in the usual
organisations for the German banking sector.

About XCOM AG /XCOM Finanz GmbH

The XCOM AG Group specialises in IT management and system development and
implementation at banks and financial services providers in Germany and
other European countries. XCOM is longstanding leading provider of
e-banking, e-commerce and e-business solutions. In its development and
consistent monitoring of forward-looking, efficient solutions, the company
focuses on its role as a full-service provider for insourcing business
processes and handling bank transactions. Well over 200 banks and financial
services providers, including all major German commercial banks and
numerous regional and specialist institutions, have worked with XCOM,
mostly for many years, and are convinced by the Group's performance and
competence. XCOM operates from its headquarters in Willich near Düsseldorf
and from 6 other locations in Germany. XCOM Finanz GmbH is a wholly-owned
subsidiary of XCOM AG.

Contact:
Aragon Aktiengesellschaft

Ralf Funke
Investor Relations
Tel.: +49(0)611 890 575-0
Fax: +49(0)611 890 575-99
E-Mail: ir@aragon.ag

End of Corporate News

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