E.ON SE

M&A Activity • Jul 3, 2002

News Details

Ad-hoc | 3 July 2002 13:33

E.ON AG english

E.ON concludes talks on sale of Stinnes stake to Deutsche Bahn Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– E.ON concludes talks on sale of Stinnes stake to Deutsche Bahn Supervisory Board to decide on deal this evening E.ON AG, Düsseldorf, is moving forward systematically in its strategy to focus on its core energy business. The company has completed negotiations with Berlin- based Deutsche Bahn AG (DB) on the sale of its 65.4 percent stake in Stinnes AG, Mühlheim as part of a cash tender offer by DB. DB has informed E.ON that its Board of Management has authorization from the company’s Supervisory Board to conclude such an agreement with E.ON and to make Stinnes shareholders a cash tender offer of 32.75 euros per share. The agreement requires the approval of E.ON’s Supervisory Board, which is meeting this evening. DB’s offer represents a premium of 24.5 percent over Stinnes’s closing price on June 26, 2002, the last trading day before speculations about DB acquiring Stinnes became public. Under the proposed offer, E.ON would receive approximately 1.6 billion euros for its shareholding and record a book gain of about 600 million euros. The transaction is expected to be completed in the fall of 2002. DB must obtain antitrust approval and consent under Germany’s Federal Budget Code. end of ad-hoc-announcement (c)DGAP 03.07.2002 ——————————————————————————– WKN: 761440; ISIN: DE0007614406; Index: DAX, EURO STOXX 50 Listed: Amtlicher Handel in Berlin, Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover, München und Stuttgart; Eurex; Swiss Exchange; New York 031333 Jul 02