Buderus AG
Buderus AG: Squeeze-out; Cash compensation of EUR 34 per share
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Buderus AG: Squeeze-out; Cash compensation of EUR 34 per share
Stuttgart-based Robert Bosch GmbH intends to acquire the shares held by outside
shareholders in Buderus AG, Wetzlar, in the context of a squeeze-out procedure.
The resolution to transfer the shares to Robert Bosch GmbH is to be passed at
Buderus AG’s ordinary Annual General Meeting on May 13, 2004. The cash
compensation will be EUR 34 per share. The total compensation paid for the 1.8
million shares outstanding will thus amount to approx. EUR 61 million.
The squeeze-out procedure entitles majority shareholders to acquire the minority
shares against payment of a cash compensation. Under the German Stock
Corporation Act, this presupposes that the majority shareholder holds a minimum
of 95 percent of the shares. Robert Bosch GmbH holds approx. 97.16 percent in
Buderus AG, with the remaining shares still publicly held. At the end of the
squeeze-out procedure, Robert Bosch GmbH will hold 100 percent of the shares in
Buderus AG.
Apart from the squeeze-out procedure, the shareholders at the Annual General
Meeting will be asked to approve the proposed merger of the heating technology
activities of Robert Bosch GmbH and Buderus AG. It is planned to transfer Robert
Boschs Thermotechnology Division to Buderus Heiztechnik GmbH, a Buderus AG
subsidiary, with retroactive effect from January 1, 2004. After the proposed
transfer, Buderus Heiztechnik GmbH would be renamed BBT Thermotechnik GmbH,
headquartered in Wetzlar. Robert Bosch GmbH and Buderus AG will hold approx. 37
percent and approx. 63 percent, respectively, in the new company. The respective
shareholdings have been determined on the basis of appraisals prepared by Ernst
& Young AG Wirtschaftsprüfungsgesellschaft.
The future BBT Thermotechnik GmbH employed just under 11,000 people (as of
January 1, 2004) and generated sales of approx. EUR 2.1 billion in 2003,
including the activities to be transferred. The respective brands and
distribution channels of the BBT Thermotechnik GmbH will be maintained also
after the legal merger.
end of ad-hoc-announcement (c)DGAP 11.03.2004
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WKN: 527800; ISIN: DE0005278006; Index:
Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (General
Standard), Hamburg und München; Freiverkehr in Hannover und Stuttgart
110700 Mär 04
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