SIGNAL IDUNA Lebensversicherung a. G.
Takeover Offer; <DE0006286560>
Target company: OVB Holding AG; Bidder: IDUNA Vereinigte Lebensversicherung aG für Handwerk, Handel und Gewerbe
Dissemination of an announcement according to the German Securities Acquisition and Takeover Act (WpÜG),
transmitted by DGAP – a company of EquityStory AG.
The bidder is solely responsible for the content of this announcement.
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Publication of the decision to submit a takeover offer pursuant to Section
10 para. 1 in conjunction with Sections 29 and 34 of the German Securities
Acquisition and Takeover Act (WpÜG)
Bidder
IDUNA Vereinigte Lebensversicherung a.G. für Handwerk, Handel und Gewerbe
Neue Rabenstraße 15-19
20354 Hamburg
Germany
registered in the commercial register of the local court of Hamburg under
HRB 2740
Target
OVB Holding AG
Heumarkt 1
50667 Köln
Germany
registered in the commercial register of the local court of Cologne under
HRB 34649
Securities Identifcation No. DE0006286560
The offer document will be published on the internet at:
www.signal-iduna.com
Information provided by the Bidder
On 8 June 2010 IDUNA Vereinigte Lebensversicherung a.G. für Handwerk,
Handel und Gewerbe (Iduna Leben) has decided to submit a voluntary takeover
offer (cash offer) to the shareholders of OVB Holding AG to acquire their
no-par value bearer shares in OVB Holding AG.
Iduna Leben intends to offer to the shareholders of OVB Holding AG, subject
to the terms and conditions still to be communicated in the offer document,
to acquire their shares in OVB Holding AG against payment of a per
share-compensation in the amount of the statutory minimum price pursuant to
Section 31 para. 1 WpÜG in connection with Sections 3
through 5 WpÜG – Offer Regulation.
Iduna Leben’s decision to submit a voluntary takeover offer followed the
conclusion of a socalled Divestiture Agreement which Iduna Leben, Deutscher
Ring Krankenversicherungsverein a.G., Signal Unfallversicherung a.G. and
Signal Krankenversicherung a.G. (the aforementioned companies together also
the Signal Iduna Parent Companies) have entered into with Bâloise AG, Basel
(Switzerland), and several subsidiaries of Bâloise AG. Upon completion of
the Divestiture Agreement Balance Vermittlungs- und Beteiligungs-AG, a
subsidiary of Deutscher Ring Krankenversicherungsverein a.G., will acquire
from two subsidiaries of Bâloise AG a total of 2.499.000 OVB Holding AG
shares (17.535% of the share capital) subject to the satisfaction of
several closing conditions which include the condition
precedent of approval by the competent cartel authorities. As Iduna Leben
which currently holds approx. 29.6% of the shares in OVB Holding AG will
act in concert with the other Signal Iduna Parent Companies in relation to
OVB Holding AG from this point in time on, all Signal Iduna Parent
Companies will acquire control in the meaning of § 29 para. 2 WpÜG over OVB
Holding AG upon completion of the Divestiture Agreement. Therefore, it is
envisaged that the takeover offer by Iduna Leben has the effect of
discharging the other Signal Iduna Parent Companies’ obligations and that
they will not publish separate offers in relation to the upcoming
acquisition of control.
The takeover offer by Iduna Leben will be subject to cartel approval.
Important information:
This publication is neither an offer to purchase nor a solicitation of an
offer to sell shares of OVB Holding AG. Investors and holders of OVB
Holding AG shares are strongly advised to read the offer document and all
other relevant documents regarding the takeover offer when they have been
published as these documents will contain important information.
Hamburg, 8 June 2010
End of WpÜG announcement(c)DGAP 08.06.2010
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