BHW-Holding AG
BHW Holding AG acquires DBV-Winterthur shareholding in AHBR
Ad hoc announcement §15 WpHG
Strategic corporate resolution
BHW Holding AG acquires DBV-Winterthur shareholding in AHBR
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————
BHW resolves to acquire the 10.4 per cent of the shares held by DBV-Winterthur
in Allgemeine HypothekenBank Rheinboden AG (AHBR)/balance sheet valuation of
the AHBR shareholding adjusted
Ad hoc notification submitted by DGAP
The issuer is responsible for the content of the notification.
The Management Board and Supervisory Board of BHW Holding AG resolved to take
over the 10.4 per cent stake of DBV-Winterthur Holding in Allgemeine
HypothekenBank Rheinboden AG (AHBR). It was agreed that the transaction price
would not be disclosed. As a result of the acquisition, the direct
shareholding of BHW Holding AG in AHBR has increased to 49.9 per cent.
The transaction ensures that BGAG and BHW will be in a position to offer any
potential bidders a total of 99.9 per cent of the shares in AHBR in the
ongoing sales process. This enhances the flexibility of the shareholders who
are in the process of selling AHBR and, for prospective buyers, opens up the
opportunity of carrying out extensive restructuring measures including a
squeeze-out procedure.
As part of the acquisition of a further 10.4 per cent of AHBR shares and in
view of the difficult market conditions, the company will also reduce the
balance sheet figure for its shareholding in AHBR significantly in the current
financial year. Consolidated operating profit is expected to meet the target.
Due to the valuation adjustment, the Group will not achieve the forecast
retained earnings of around EUR 100 million. However, the write-back of
reserves means that the Group will be reporting balanced consolidated profit
BHW Holding AG
Lubahnstraße 2
31789 Hameln
Deutschland
ISIN: DE0005223903 (SDAX)
WKN: 522390
Listed: Amtlicher Markt in Frankfurt (Prime Standard) und Hannover;
Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, München und Stuttgart
End of ad hoc announcement (c)DGAP 15.09.2005
151619 Sep 05
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