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M&A Activity • Sep 16, 2005

News Details

Ad-hoc | 16 September 2005 15:54

ARQUES takes over the Bielefeld-based Sommer Fahrzeugbau GmbH & Co. KG

Ad hoc announcement §15 WpHG Takeover ARQUES takes over the Bielefeld-based Sommer Fahrzeugbau GmbH & Co. KG Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— ARQUES takes over the Bielefeld-based Sommer Fahrzeugbau GmbH & Co. KG Banks forego outstanding debts Starnberg, September 16, 2005 -The Executive Board of ARQUES Industries AG (ISIN DE0005156004) agreed in its meeting today to take over 94% of the shares in Sommer Fahrzeugbau GmbH & Co. KG. The shares are to be brought into ARQUES Industries AG by way of a capital increase against a grant of shares from the authorised capital. 6% of the shares remain with the old owners, Herbert and Gerhard Sommer. ARQUES also receives an option right on these shares. The parties agreed not to reveal the transaction price until the completion of the auditor’s appraisal. The company will be transferred almost free of bank liabilities. The government guarantees will be returned in full. Thus the complicated takeover negotiations could be successfully concluded. In particular due to the willingness for reorganisation on behalf of the bank pool, headed by the Commerzbank, a mutually satisfactory solution could be found. Due to the high value of the company’s assets, the inclusion into ARQUES will lead to a significant bargain purchase. The company is one of the leading international special vehicle manufacturers. Among other things, Sommer manufactures all European delivery vehicles for the parcel delivery service UPS. Apart from the main plant in Bielefeld, the company has other production plants in Laucha (Saxony-Anhalt), Poland and Russia. The company reached a turnover of approximately EUR60 million. Hans Engelsman, who previously headed the successful reorganisation of the Schierholz-Translift group, will be appointed ARQUES subsidiary manager. The ARQUES task force will take up its duties with immediate effect. By means of the acquisition, the annualised consolidated revenue of ARQUES will rise by approximately 15%. Hereby the annualised revenue goal of EUR0.5 billion in the second half of 2005 has moved within reach. Contact: ARQUES Investor Relations Anke Lüdemann Tel.: +49 (0) 8151/651 0 E-mail: luedemann@arques.de ARQUES Industries AG Münchner Str. 15a 82319 Starnberg Deutschland ISIN: DE0005156004 WKN: 515600 Listed: Geregelter Markt (Prime Standard) in Frankfurt; Freiverkehr in Berlin- Bremen, München und Stuttgart End of ad hoc announcement (c)DGAP 16.09.2005 161554 Sep 05