029 Group SE

M&A Activity • Sep 24, 2010

News Details

Takeover Bids | 24 September 2010 13:04

Takeover Offer ;

Target company: HOCHTIEF Aktiengesellschaft; Bidder: ACS, Actividades de Construcción y Servicios, S.A.

Dissemination of an announcement according to the German Securities

Acquisition and Takeover Act (WpÜG), transmitted by DGAP – a company of

EquityStory AG.

The bidder is solely responsible for the content of this announcement.

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This announcement and the information contained herein are restricted and

are not for release, publication or distribution, in whole or in part, in

or into the United States, Canada, Australia or Japan

Amendment to the publication of the decision to make a takeover offer

pursuant to Section 10 paras. 1 and 3 in conjunction with Section 29 para.

1 and Section 34 of the German Securities Acquisition and Takeover Act

(Wertpapiererwerbs- und Übernahmegesetz (WpÜG))

Bidder:

ACS, Actividades de Construcción y Servicios, S.A.

Avenida de Pío XII, 102

28036 Madrid

Spain

registered in the commercial register (Registro Mercantil) of Madrid,

Spain, in Volume 1660, page 1, Sheet M-30221

ISIN: ES0167050915

Target company:

Hochtief Aktiengesellschaft

Opernplatz 2

45128 Essen

Germany

registered in the commercial register of the Local Court of Essen under HRB

279

ISIN: DE0006070006

On 16 September 2010, ACS, Actividades de Construcción y Servicios, S.A.

(‘ACS’) pursuant to Section 10 paras. 1 and 3 in conjunction with Section

29 para. 1 and Section 34 of the German Securities Acquisition and Takeover

Act (Wertpapiererwerbs- und Übernahmegesetz (WpÜG)) published its decision

to make a voluntary public takeover offer to all Hochtief shareholders to

acquire their no-par value bearer shares in Hochtief Aktiengesellschaft,

each representing a pro rata amount of the registered share capital of EUR

2.56 (ISIN: DE0006070006) (the ‘Hochtief Shares’).

The voluntary takeover offer will be made by way of an exchange offer. ACS

will offer 8 ordinary voting shares in ACS with a nominal value of EUR 0.50

per share (the ‘ACS Shares’) as consideration for 5 Hochtief Shares.

On 23 September 2010, the German Federal Financial Supervisory Authority

(Bundesanstalt für Finanzdienstleistungsaufsicht) has notified ACS that the

effective three months average stock exchange price for the Hochtief Share,

determined as of the reference date 15 September 2010, amounts to EUR

50.97.

The offer document and further information relating to the public takeover

offer will be published on the internet at

http://www.acs-offer.com.

Important information:

This announcement is neither an offer to purchase nor a solicitation of an

offer to sell Hochtief Shares. Moreover, the announcement is neither an

offer to purchase nor a solicitation to purchase ACS Shares. The final

terms and further provisions regarding the public takeover offer will be

disclosed in the offer document after the publication has been approved by

the German Federal Financial Supervisory Authority (Bundesanstalt für

Finanzdienstleistungsaufsicht). ACS reserves the right to deviate in the

final terms of the public takeover offer from the basic information

described herein. Investors and holders of Hochtief Shares are strongly

recommended to read the offer document and all documents in connection with

the public takeover offer as soon as they are published, since they will

contain important information.

Subject to certain exceptions to be approved by the relevant regulators or

certain facts to be ascertained, the public takeover offer will not be made

directly or indirectly, in or into the United States, Canada, Australia,

Japan or any other jurisdiction where to do so would constitute a violation

of the laws of such jurisdiction, or by use of the mails or by any means or

instrumentality (including without limitation, facsimile transmission,

telephone and the internet) of interstate or foreign commerce, or any

facility of a national securities exchange, of the United States, Canada,

Australia or Japan. Accordingly, copies of this announcement or any

accompanying documents are not being, directly or indirectly, mailed or

otherwise distributed, forwarded or transmitted in, into or from the United

States, Canada, Australia or Japan.

The ACS Shares have not been, and will not be, registered under the US

Securities Act of 1933 or with any securities regulatory authority of any

state or other jurisdiction of the United States or under the applicable

securities laws of Canada, Australia and Japan. Accordingly, subject to

certain exceptions, the ACS Shares may not be offered or sold within the

United States or Canada, Australia and Japan or any other jurisdiction

where to do so would constitute a violation of the laws of such

jurisdiction, or to or for the account or benefit of any person in the

United States, Canada, Australia or Japan.

To the extent permissible under applicable law or regulation, and in

accordance with normal German market practice, ACS or its brokers (acting

as agents) may from time to time make certain purchases of, or arrangements

to purchase, directly or indirectly, Hochtief Shares or any securities that

are immediately convertible into, exchangeable for, or exercisable for,

Hochtief Shares, other than pursuant to the public takeover offer, before,

during or after the period in which the offer remains open for acceptance.

These purchases may occur either in the open market at prevailing prices or

in private transactions at negotiated prices. Any information about such

purchases will be disclosed as required by law or regulation in Germany or

other relevant jurisdictions.

Madrid, this 24 September 2010

ACS, Actividades de Construcción y Servicios, S.A.

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End of WpÜG announcement

24.09.2010DGAP’s Distribution Services include Regulatory Announcements,

Financial/Corporate News and Press Releases.

Media archive at www.dgap-medientreff.de and www.dgap.de

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Listed: Bieter: Freiverkehr in Berlin, Düsseldorf, Frankfurt, München und

Stuttgart

Zielgesellschaft: Regulierter Markt in Frankfurt (Prime

Standard), Berlin, Düsseldorf, Hamburg und München; Freiverkehr in Hannover

und Stuttgart