United Internet AG

M&A Activity • Feb 6, 2002

News Details

Ad-hoc | 6 February 2002 07:15

United Internet AG english

Ad hoc United Internet AG Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– United Internet affiliate jobpilot AG signs business combination agreement with Adecco SA Adecco prepares purchase offer for jobpilot shareholders Montabaur, February 6, 2002. Adecco SA (Swiss stock exchange code – ADEN) and jobpilot AG (Frankfurt Neuer Markt code – JOA) – in which United Internet AG holds a significant stake- have signed a business combination agreement. Under the terms of the agreement, Adecco is committed to making an offer of EUR 5.30 per jobpilot share for the entire capital stock, payable in cash on completion of the transaction. However, Adecco is entitled to pull out of the transaction if certain key financial ratios in the audited annual accounts for fiscal 2001 vary significantly from the figures published by jobpilot. The transaction is expected to be completed in April 2002 and has been valued by jobpilot at around EUR 70 million. The acquisition offer is subject to an acceptance rate of 75 % and the approval of the relevant anti-trust authorities. The transaction has been welcomed by United Internet AG, which is prepared to sell shares in jobpilot AG amounting to approx. 25 % of capital stock to Adecco for the agreed price of EUR 5.30 per share on expiry of Adeccos rescission rights. The divestment will generate a cash flow of approx. EUR 18.5 million. Contact partner: Marcus Schaps Press Spokesman United Internet AG Phone: +49 2602/96-1076 Fax: +49 2602/96-1013 E-mail: mschaps@united-internet.de end of ad-hoc-announcement (c)DGAP 06.02.2002 ——————————————————————————– WKN: 508903; ISIN: DE0005089031; Index: NEMAX50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Stuttgart, München, Berlin, Bremen, Hamburg, Düsseldorf und Hannover 060715 Feb 02