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OIAG PRESS RELEASE
Vienna, April 7th 2009
Austrian Airlines:
Syndicate partners accept takeover offer of Deutsche Lufthansa
The partners in the AUA syndicate have informed ÖIAG that they will accept the takeover offer of Lufthansa for the shares in Austrian Airlines AG held in their syndicate. LVBG Luftverkehrsbeteiligungs mbH, Raiffeisen-Invest-Gesellschaft mbH and Wiener Städtische Versicherung AG Vienna Insurance Group are represented in the syndicate, as well as ÖIAG. Excluding the share of ÖIAG, the syndicate currently holds a total of around 7 percent of the equity capital of the company.
The takeover offer of Deutsche Lufthansa AG was announced on 27 February 2009, and has until 11 May 2009 to run. The success of the offer is linked to achievement of an acceptance threshold of 75 percent. Both the AUA Executive Board and the AUA Supervisory Board recommended to the Group’s shareholders on 13 March that the takeover offer be accepted.
Based on the contracts concluded on 5 December 2008, the shares of ÖIAG in Austrian Airlines AG (around 41.6 percent) are being transferred to Deutsche Lufthansa AG outside the takeover offer. ÖIAG also receives a debtor warrant which provides for a profit participation based on the economic performance of Austrian Airlines and the share price of Lufthansa compared to other airlines after three years. The maximum revenue from the debtor warrant is EUR 164 million, and corresponds to the price of the public takeover offer.
Dr. Michaelis, the Chief Executive Officer of ÖIAG and leader of the syndicate, issued the following statement: “Acceptance of the takeover offer by the partners in the syndicate is an important signal to the shareholders in Austrian Airlines and an essential step towards fulfilment of the conditions still outstanding.
AUA has found the right partner in Lufthansa, as the global challenges faced by the aviation industry can only be overcome by pooling our strengths. In light of the continuing recession and the accompanying drastic fall in demand, this partnership is decisive in ensuring the long-term future of AUA.”
For further details please contact:
Österreichische Industrieholding AG
Anita Bauer
Dresdner Strasse 87, 1201 Wien
T: +43/1/711 14-240
M: +43/664/13 40 333
E: Anita.bauer@oiag.at
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