Deutsche Post AG

M&A Activity • Sep 12, 2008

News Details

Ad-hoc | 12 September 2008 12:52

Deutsche Post AG: Deutsche Post sells 29.75 per cent stake in Postbank to Deutsche Bank

Deutsche Post AG / Strategic Company Decision

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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Deutsche Bank and Postbank agree close cooperation

Deutsche Post has sold a minority stake of 29.75 per cent in Postbank to
Deutsche Bank for Euro 2.79 bn or Euro 57.25 per share. The acquisition of
this stake is subject to approval by regulatory and anti-trust authorities
and the German Government and will close in the first quarter of 2009. The
consideration for the stake will be paid by Deutsche Bank in cash. Deutsche
Bank intends to fund the acquisition through an equity raising of up to EUR
2.0 bn. Timing and precise composition of the equity raising are subject to
market conditions.

For Deutsche Post, the cash proceeds will be a central component in the
context of its considerations to return cash to shareholders, which it
expects to conclude on later this year.

In addition to the minority stake acquisition, Deutsche Post has granted
Deutsche Bank an option to acquire an additional 18.0 per cent of Postbank
for Euro 55.00 per share. This option can be exercised between 12 months
and 36 months after acquisition of the initial 29.75 per cent stake.
Moreover, Deutsche Post has granted Deutsche Bank a right of first refusal
for its remaining Postbank shares.

Deutsche Post has been granted a put option to sell its remaining stake of
20.25 per cent plus one share in Postbank to Deutsche Bank. Deutsche Post
can exercise this option between 21 months and 36 months after acquisition
of the initial 29.75 per cent stake at a price of Euro 42.80 per share.
Deutsche Bank can settle both options either in cash or fully or partially
with its own shares.

Furthermore, Deutsche Bank with its 14 million clients in private and
business banking (thereof 9.7 million in Germany) and Postbank with its
14.5 million clients in Germany have agreed in principle to cooperate in
several areas including the distribution of home finance and investment
products. The cooperation is expected to have substantial revenue potential
for both partners and the companies will finalise details shortly.

Contact:
Martin Ziegenbalg
EVP Investor Relations
Tel: 0228-182-63000

12.09.2008 Financial News transmitted by DGAP

Language: English
Issuer: Deutsche Post AG
Charles-de-Gaulle-Straße 20
53113 Bonn
Deutschland
Phone: +49 (0)228 182 - 63 100
Fax: +49 (0)228 182 - 63 199
E-mail: ir@deutschepost.de
Internet: www.dpwn.de
ISIN: DE0005552004
WKN: 555200
Indices: DAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
Hannover, Düsseldorf, Hamburg, München, Stuttgart;
Terminbörse EUREX

End of News DGAP News-Service

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