Allianz SE

Major Shareholding Notification • Oct 23, 2003

News Details

Ad-hoc | 23 October 2003 13:30

Allianz AG english

Allianz sells 40 percent in Beiersdorf Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Allianz sells 40 percent in Beiersdorf Allianz AG, Munich, will sell a 40 percent stake in Beiersdorf to an investor group led by Tchibo Holding AG, Hamburg. Allianz currently holds a total of 43.6 percent in Beiersdorf AG. It has been agreed that 19.6 percent of the registered share capital of Beiersdorf AG will be acquired by Tchibo Holding AG, 10.0 percent by HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsverwaltung, Hamburg, 3.0 percent by Troma Alters- und Hinterbliebenenstiftung, Hamburg. It is intended to offer a further 7.4 percent stake to Beiersdorf AG, as part of a share buy-back program. The price for the stake sold by Allianz AG totals approximately EUR 4.4 billion. This corresponds to an average price per share of EUR 130. The average Beiersdorf share price was EUR 107.75 in the last twelve months. The transaction will be implemented in several stages and is subject to the consent of the antitrust authorities. end of ad-hoc-announcement (c)DGAP 23.10.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: These assessments are, as always, subject to the disclaimer provided below. Cautionary Note Regarding Forward-Looking Statements Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words ‘may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue’ and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group’s core business and core markets, (ii) performance of financial markets, including emerging markets, (iii) the frequency and severity of insured loss events, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults (vii) interest rate levels, (viii) currency exchange rates including the Euro-U.S. dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. The matters discussed herein may also involve risks and uncertainties described from time to time in Allianz AG’s filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statement. No duty to update The company assumes no obligation to update any information contained herein. ——————————————————————————– WKN: 840400; ISIN: DE0008404005; Index: DAX-30, EURO STOXX 50 Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg, Hannover, München und Stuttgart; EUREX; Swiss Exchange; London; Paris; NYSE 231330 Okt 03