Viva Media AG
VIVA Media AG: Viacom intends to launch tender offer for VIVA Media AG
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Viacom intends to launch tender offer for VIVA Media AG
– Agreement signed to acquire 75.8% of the shares in VIVA Media AG
– Voluntary tender offer planned for EUR 12.65 per share
Cologne, 24 June 2004. Viacom Inc., a leading global media company, has today
informed VIVA Media that an agreement has been signed to acquire 75.8% of the
shares in VIVA Media AG. The agreement includes, inter alia, the shares of Time
Warner, Universal Music, “Die Initiatoren Eins bis Vier” and several
shareholders who are members of the corporate bodies of VIVA Media AG and
BRAINPOOL TV GmbH. The closing of the agreement is, inter alia, subject to
antitrust and regulatory approval and the absence of a material adverse change
in VIVA Media AG.
Viacom today also published and notified to the company pursuant to the
provisions of the German Takeover Act its decision to launch a tender offer for
the shares in VIVA Media AG at a price of EUR 12.65 per share.
The offer represents a premium of 21% versus the weighted average share price
during the previous three month period published by the BaFin – Bundesanstalt
für Finanzdienstleistungsaufsicht – (EUR 10.47, as of June 15, 2004). Based on
the number of 24,413,107 shares in VIVA Media AG the offer implies a valuation
of the equity of VIVA Media AG at EUR 308.8 million.
Subject to review of the formal tender offer document, the management board of
VIVA Media AG supports this transaction. In the context of the transaction the
management board of VIVA Media AG has agreed with Viacom (MTV Networks Europe)
on a joint declaration regarding the post-acquisition strategy and process.
Following BaFin approval, the offer document will be published, inter alia, on
the internet site www.mtv-viva.com.
On the basis of a separate agreement Viacom will also acquire Time Warner’s
stake in the music TV channel VIVA PLUS, a joint venture between VIVA Fernsehen
GmbH (51%) and Time Warner (49%). The closing of this transaction is also
subject to several conditions precedent.
Contact: VIVA Media AG. Schanzenstrasse 22. D-51063 Cologne. www.vivamediaag.com
Investor Relations. Christoph Ahmadi. Phone: +49(0)221-6509-2300.
ir@vivamediaag.com
end of ad-hoc-announcement (c)DGAP 24.06.2004
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WKN: 617106; ISIN: DE0006171069; Index: SDAX
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
240844 Jun 04
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