Deutsche Lufthansa AG — M&A Activity 2008

Dec 3, 2008

News Details

Ad-hoc | 3 December 2008 17:11

Deutsche Lufthansa AG: Lufthansa Supervisory Board approves acquisition of Austrian Airlines

Deutsche Lufthansa AG / Mergers & Acquisitions

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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Today, the Supervisory Board of Deutsche Lufthansa AG ('Lufthansa') has
approved the acquisition of up to 100 per cent of the shares in Austrian
Airlines AG ('AUA').
The 41.56 per cent shareholding in AUA held by Österreichische
Industrieholding AG ('ÖIAG') is to be acquired at a price of TEUR 366
together with an earn-out option (Besserungsschein). In accordance with
this option, Lufthansa will pay an amount of up to EUR 162 million
depending on AUA’s future economic performance and on the outperformance of
the Lufthansa share price. The ÖIAG Supervisory Board meeting to approve
the proposed transaction is to be held on 5 December 2008. Thereafter, the
parties intend to sign the related contracts.
Execution of these contracts is subject to, among other things, the
conditions precedent (i) of obtaining anti-trust approval, (ii) of
obtaining approval by the European Commission of the EUR 500 million
restructuring aid to be granted by the Republic of Austria and (iii) that
Lufthansa, after the end of the initial acceptance period for the public
tender offer, holds over 75 per cent of the shares in AUA.
In the course of the time periods as set forth by Austrian takeover law,
Deutsche Lufthansa AG will publish a public offer to AUA's free float
shareholders and will also apply to the Austrian Takeover Commission for a
maximum extension of the notification period. The offer price will
correspond to the weighted average market price of the AUA shares over the
six months prior to this announcement (subject to review by the Takeover
Commission EUR 4,44 per share) and amount to a further EUR 215 million
approximately.
03.12.2008 Financial News transmitted by DGAP

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Language: English
Issuer: Deutsche Lufthansa AG
Von-Gablenz-Str. 2-6
50679 Köln
Deutschland
Phone: +49 (0)69 696 28002
Fax: +49 (0)69 696 90990
E-mail: investor.relations@dlh.de
Internet: www.lufthansa-financials.de
ISIN: DE0008232125, DE0008232125
WKN: 823212
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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