RSE Grundbesitz- und Beteiligungs-AG
RSE AG to become Klöckner group company
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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RSE Grundbesitz und Beteiligungs-AG (RSE) announces that it intends to
implement the following measures within a short period in order to discharge
the predominant share of group claims against WCM Beteiligungs- und
Grundbesitz-AG (WCM):
1. RSE acquires from WCM Beteiligungs- und Verwaltungs GmbH & Co. KG, a 100
percent WCM subsidiary, 14,652,000 shares of Klöckner-Werke AG (Klöckner),
that is approximately 32 percent of the Klöckner share capital at a price of
roughly EUR 264 million. This is equivalent to a price per Klöckner share of
EUR 18.00. In line with the corresponding agreement, the purchase price claim
of WCM Beteiligungs- und Verwaltungs GmbH from this sale will be offset
against existing WCM liabilities to RSE of EUR 262 million.
2. WCM will subsequently sell its stake of approximately 70.7 percent of the
RSE share capital to Klöckner. It is intended that RSE will transfer the
14,652,000 Klöckner shares acquired in line with Paragraph 1 to Klöckner at a
later point in time. This results in RSE having a right of compensation of EUR
264 million against Klöckner.
Frankfurt / Main, December 27, 2005
The Management Board
RSE Grundbesitz und Beteiligungs-AG
Opernplatz 2
60313 Frankfurt am Main
Deutschland
ISIN: DE0008292079
WKN: 829207
Listed: Amtlicher Markt in Berlin-Bremen, Frankfurt (General Standard) und
Hamburg; Freiverkehr in Düsseldorf, München und Stuttgart
End of ad hoc announcement (c)DGAP 27.12.2005
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