MLP SE

Regulatory Filings • Jul 5, 2002

News Details

Ad-hoc | 5 July 2002 08:31

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MLP AG: MLP ends Austrian production joint venture with UNIQA Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– MLP ends Austrian production joint venture with UNIQA Cost advantages through internationalisation of own production platform Heidelberg/Vienna, 5th July 2002 – MLP Lebensversicherung AG, Heidelberg, a subsidiary of MLP AG, is ending its joint venture with the Austrian based UNIQA Versicherung AG, Vienna which began in 1995. It is selling its 50 percent holding in MLP-Lebensversicherung AG, Vienna which produces unit-linked life assurance policies solely for the Austrian market, to UNIQA Versicherung AG, Vienna. The signed letter of intent enables UNIQA to acquire the shares by 31 December 2002 at a cost of EUR 85 million. UNIQA will complete the organisational integration of the company into the Group by 31 December 2003, and change the name to reflect the image of the Group so that the MLP brand name in Austria will then only be used by MLP Group companies. The termination of the joint venture has been planned for some considerable time. MLP and UNIQA will otherwise continue to work together, for example within the area of electronic data processing. “By reaching this agreement, MLP is creating shareholder value and concentrating on a central, European-based platform strategy for further organic growth. As a result, MLP Finanzdienstleistungen AG will in future also offer unit-linked life assurance products in Austria which have been produced by German based MLP- Lebensversicherung AG, Heidelberg. This improves our efficiency and provides us with additional cost advantages.” said Dr. Bernhard Termühlen, CEO and Chairman MLP AG. The agreement still requires ratification by the governing committees of both companies as well as by the Austrian cartel authority. Contact: Dr. Klaus Möller Tel. +49 (0) 62 21/3 08 – 16 10 Fax: +49 (0) 62 21/3 08 – 16 11 publicrelations@mlp-ag.com end of ad-hoc-announcement (c)DGAP 05.07.2002 ——————————————————————————– WKN: 656990; ISIN: DE0006569908; Index: DAX Listed: Amtlicher Markt in Frankfurt und Stuttgart; Freiverkehr in Berlin, Bremen, Düsseldorf und Hamburg; EUREX 050831 Jul 02