Hyundai Capital Bank Europe GmbH
Takeover Offer; <DE000A0DPRE6>
Target company: Sixt Leasing SE; Bidder: Hyundai Capital Bank Europe GmbH
Dissemination of an announcement according to the German Securities
Acquisition and Takeover Act (WpÜG), transmitted by DGAP – a service of
EQS Group AG.
The bidder is solely responsible for the content of this announcement.
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Announcement of the decision to launch a voluntary public takeover offer
(freiwilliges öffentliches Übernahmeangebot) pursuant to section 10 para. 1
in conjunction with sections 29 para. 1, 34 of the German Securities
Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz, WpÜG)
Bidder:
Hyundai Capital Bank Europe GmbH
Friedrich-Ebert-Anlage 35-37
60327 Frankfurt am Main
Germany
registered with the commercial register of the local court (Amtsgericht) of
Frankfurt am Main under register number HRB 102819
Target:
Sixt Leasing SE
Zuspitzstraße 1
82049 Pullach
Germany
registered with the commercial register of the local court (Amtsgericht) of
Munich under register number HRB 227195
ISIN: DE000A0DPRE6 / WKN: A0DPRE
On 21 February 2020, Hyundai Capital Bank Europe GmbH (the ‘Bidder’) has
decided to make a voluntary public tender offer to the shareholders of Sixt
Leasing SE to acquire their bearer shares with no-par-value (auf den
Inhaber lautende nennwertlose Stückaktien) in Sixt Leasing SE
(DE000A0DPRE6; the ‘Sixt Leasing Shares’), against payment of a cash
consideration in the amount of EUR 18.00 per Sixt Leasing Share (the
‘Takeover Offer’). If the Takeover Offer is still settled prior to this
year’s annual general meeting (ordentliche Hauptversammlung) of Sixt
Leasing SE, the cash consideration will be increased, depending on the
group profit (Konzernüberschuss) for the financial year 2019 as stated in
the audited consolidated annual accounts of Sixt Leasing SE, by up to EUR
0.90 per tendered Sixt Leasing Share.
The Bidder is a joint venture company of Santander Consumer Bank
Aktiengesellschaft and Hyundai Capital Services Inc.
The Takeover Offer will be made subject to the completion conditions set
out in the offer document, amongst others, certain merger control and other
regulatory clearances, a minimum acceptance threshold of 55 % of Sixt
Leasing Shares and other customary closing conditions.
The offer document (in German and a non-binding English translation), which
contains the detailed terms and conditions of the Takeover Offer and other
related information, will be published on the internet at
www.hcbe-offer.de.
The offer document for the Takeover Offer will also be published by way of
a notice of availability in the German Federal Gazette (Bundesanzeiger) and
will be accessible on the website of the German Federal Financial
Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht,
‘BaFin’).
The Bidder has today entered into a purchase agreement with Sixt SE,
Pullach, Germany, for the acquisition of in total 8,644,638 Sixt Leasing
Shares held by Sixt SE (representing approx. 41.9 % of the share capital
and the voting rights of Sixt Leasing SE) against payment of a purchase
price of EUR 18.00 per Sixt Leasing Share. If the purchase agreement is
still closed prior to this year’s annual general meeting (ordentliche
Hauptversammlung) of Sixt Leasing SE, the purchase price will be increased,
depending on the group profit (Konzernüberschuss) for the financial year
2019 as stated in the audited consolidated annual accounts of Sixt Leasing
SE, by up to EUR 0.90 per sold Sixt Leasing Share. The closing of the
purchase agreement is subject to, amongst others, the reaching of the 55%
minimum acceptance threshold in the Takeover Offer whereas the
aforementioned shares to be acquired under the share purchase agreement
will count against the aforementioned minimum acceptance threshold, as well
as certain merger control and other regulatory clearances.
Important notice:
This announcement is neither an offer to purchase nor a solicitation of an
offer to sell Sixt Leasing Shares. The final terms of the Takeover Offer as
well as other terms pertaining to the Takeover Offer will be announced in
the offer document after the permission of the publication of the offer
document by BaFin. Investors and holders of Sixt Leasing Shares are
strongly advised to read the offer document as well as all other documents
related to the Takeover Offer when they are made available because they
will contain important information and to seek independent advice, where
appropriate, in relation to the matters therein.
The release, publication or distribution of this announcement in certain
jurisdictions other than the Federal Republic of Germany may be restricted
by law. Persons who are resident in, or are subject to, other jurisdictions
should inform themselves of, and observe, any applicable requirements.
To the extent permissible under applicable law or regulation, and in
accordance with German market practice, the Bidder, its affiliates and/or
brokers acting on their behalf may, outside of the United States of America
and in compliance with applicable law, from time to time make certain
purchases of, or arrangements to purchase, directly or indirectly, Sixt
Leasing Shares or any securities that are immediately convertible into,
exchangeable for, or exercisable for, Sixt Leasing Shares, other than
pursuant to the Takeover Offer, before, during or after the period in which
the Takeover Offer will remain open for acceptance. These purchases may
occur either in the open market at prevailing prices or in private
transactions at negotiated prices. Any information about such purchases
would be disclosed as required by law or regulation in Germany or other
relevant jurisdictions.
Frankfurt am Main, 21 February 2020
Hyundai Capital Bank Europe GmbH
The Managing Directors
End of WpÜG announcement
The 21.02.2020 DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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