JENOPTIK AG

M&A Activity • Jun 23, 2010

News Details

Ad-hoc | 23 June 2010 09:04

Jenoptik AG: Jenoptik sells minority stake in caverion GmbH.

Jenoptik AG / Disposal

23.06.2010 09:04

Dissemination 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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Jenoptik sells minority stake in caverion GmbH.

Net cash inflow reduces net debt. Focus on the core business further
intensified. Group forecast 2010 for the operating business reaffirmed.

The Jenoptik Group sells its 15.1 percent minority stake in caverion GmbH
to the listed Finnish construction and technology group YIT. Last night
agreement was reached on all major points of the contract; the contract
will be authenticated by a notary today. The transaction is e.g. subject to
the suspensive condition of approval by the competent anti-trust
authorities. With this sale Jenoptik is consistently implementing the Group
strategy and continues to focus on the core business.

During the course of the sale the existing financing agreement between
Jenoptik and caverion in particular will be terminated and Jenoptik will be
released from all existing guarantee obligations, both directly or through
a Group countersecurity by YIT. With this about 90 percent of the Group
guarantee and cash facilities granted to third parties will be cancelled.

After a successful closing of the contract Jenoptik anticipates, in
addition to the redemption of intercompany receivables and liabilities, a
net cash inflow in the upper single figure million euro range in the second
half of the year which will be used to reduce net debt by the same amount.
In addition the Group expects a small non-operative income in the second
half of the year. Jenoptik reaffirms the forecast for 2010 and with
anticipated sales of between 475 and 500 million euros expects an EBIT of
between 15 and 25 million euros coming only from the operating business.
Net profit for the year is expected to be positive.

caverion GmbH was created as a management-buy-out out of the former Clean
Systems business division which was sold in 2005/2006. As a company
operating in the area of facility construction, caverion offers integrated
solutions for complex high-tech buildings and systems.

Contact: IR, Steffen Schneider, Phone/Fax 03641-652244/2804;
www.jenoptik.com

23.06.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Jenoptik AG
Carl-Zeiss-Straße 1
7739 Jena
Deutschland
Phone: +49 (0)364 165-0
Fax: +49 (0)364 165-2484
E-mail: ir@jenoptik.com
Internet: www.jenoptik.com
ISIN: DE0006229107
WKN: 622910
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg

End of News DGAP News-Service

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