RWE AG — M&A Activity 2004

Feb 25, 2004

News Details

Ad-hoc | 25 February 2004 07:57

RWE is offering Hochtief shares and an exchangeable bond into Hochtief shares

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– RWE is offering Hochtief shares and an exchangeable bond into Hochtief shares Essen, 25 February 2004 RWE AG, Essen, and a wholly-owned subsidiary as of today are offering for sale in the form of an accelerated bookbuilding 39.3 million shares in Hochtief AG, Essen. The offer represents 56.1 percent of the share capital of Hochtief AG. The offer comprises of a direct sale of 32 million shares in Hochtief. The price range is between 21.75 and 23.00 Euro. This offer is directed to institutional investors in Europe and in the U.S. (according to Rule 144A under the U.S. Securities Act of 1933). The offer will be complemented by an RWE AG issued exchangeable bond into Hochtief shares with a volume of up to 250 million Euro. The exchangeable bond will have a maturity of three years. It will be offered with a coupon of between 1.125 percent and 1.625 percent and an exchange premium of 25 percent – 30 percent above the equity placement price. The exchangeable bond will be offered to institutional investors in Europe only. The acceptance period for both offers expires on Thursday, February 26, 2004, at the latest. The final offer price and the number of Hochtief shares placed, as well as further details concerning the size and the final conditions of the exchangeable bond will be published directly following the finalization of the transaction. end of ad-hoc-announcement (c)DGAP 25.02.2004 ——————————————————————————– WKN: 703712; ISIN: DE0007037129; Index: DAX, EURO STOXX 50 Listed: Amtlicher Markt in Düsseldorf und Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Hamburg, Hannover, München und Stuttgart; EUREX; Swiss Exchange 250757 Feb 04