Continental AG — M&A Activity 2004

Oct 26, 2004

News Details

Ad-hoc | 26 October 2004 17:07

Continental AG : EU Commission approves takeover of Phoenix AG

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Continental AG : EU Commission approves Continental AG’s takeover of Phoenix AG In its decision of October 26, 2004, the Commission of the European Union has cleared the acquisition by Continental AG of more than 75% of the shares of Phoenix AG. All condition precedents of the takeover offer have now been met, and the takeover offer can be implemented. To alleviate reservations of the EU Commission Continental AG has committed to the EU Commission on October 1, 2004 that the holding of Phoenix AG in Vibracoustic GmbH & Co. KG and other subsidiaries (collectively Vibracoustic) together with the Phoenix production of air springs supplied as original equipment for commercial vehicles be sold. Vibracoustic is a joint venture with Freudenberg & Co. KG in the sector of vibration damping and air suspension. Furthermore, Continental AG has committed that a production line for heavy conveyor belts be disposed of. In both cases, Continental AG has already concluded preliminary agreements with purchasers approved by the Commission. end of ad-hoc-announcement (c)DGAP 26.10.2004 ——————————————————————————– WKN: 543900; ISIN: DE0005439004; Index: DAX Listed: Amtlicher Markt in Frankfurt (Prime Standard), Hamburg, Hannover und Stuttgart; Freiverkehr in Berlin-Bremen, Düsseldorf und München; Wien und Swiss Exchange (Hauptsegment); Börse Luxembourg 261707 Okt 04