GAGFAH S.A.
GAGFAH S.A. and Deutsche Annington Immobilien SE agree on potential business combination
GAGFAH S.A. / Key word(s): Merger 01.12.2014 06:59 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad-hoc-Announcement pursuant to Sec. 15 WpHG GAGFAH S.A. and Deutsche Annington Immobilien SE agree on potential business combination Luxembourg, December 1, 2014 GAGFAH S.A. ("GAGFAH") and Deutsche Annington Immobilien SE ("Deutsche Annington") have today signed a business combination agreement to provide the basis for the creation of Germany's largest residential property company and one of the largest real estate companies in Europe. Pursuant to the agreement, Deutsche Annington has announced its intention to launch a public takeover offer for all the outstanding shares of GAGFAH. The consideration offered and paid by Deutsche Annington shall comprise 5 Deutsche Annington shares and EUR 122.52 in cash for 14 GAGFAH shares. Based on the XETRA closing price (Frankfurt Stock Exchange) of the Deutsche Annington shares as of November 28, 2014, the combined cash and exchange offer values each GAGFAH share with EUR 18.00, constituting a premium of 16.1% to the XETRA closing price (Frankfurt Stock Exchange) of the GAGFAH shares as of November 28, 2014. The offer will be subject to a minimum acceptance threshold of 50% of the outstanding GAGFAH shares (on a fully diluted basis) as well as other customary conditions. Subject to review of the final offer document, the Board of Directors of GAGFAH S.A. intends to support the offer and under the terms of the business combination agreement the members of the Board of Directors have committed to tender shares held by them. The combined Group will be Germany's largest residential landlord and one of the largest real estate companies in Europe with approximately 350,000 residential units and a combined portfolio value of approximately EUR 21 billion. About GAGFAH S.A. GAGFAH S.A. is a joint stock corporation organized under the laws of the Grand Duchy of Luxembourg qualifying as a securitization company under the Luxembourg Securitization Law of March 22, 2004. The core business of GAGFAH S.A.'s operating subsidiaries is the ownership and management of a geographically diversified and well maintained residential property portfolio located throughout Germany. With a portfolio of more than 140,000 apartments, GAGFAH is one of the largest residential property companies listed in Germany. Language: English Issuer, Adress: GAGFAH S.A., 2-4 rue Beck, L-1222 Luxembourg, Großherzogtum Luxemburg Phone: + 352 266 366 21 Fax: + 352 266 366 01 E-mail: rhoffmann@gagfah.com www: www.gagfah.com ISIN: LU0269583422 WKN: A0LBDT Index: MDAX Listed: Frankfurter Wertpapierbörse, Regulierter Markt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of announcement 01.12.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: GAGFAH S.A. 2-4, rue Beck 1222 Luxemburg Grand Duchy of Luxembourg Phone: + 352 266 366 21 Fax: + 352 266 366 01 E-mail: info@gagfah.com Internet: www.gagfah.com ISIN: LU0269583422, LU0269583422 WKN: A0LBDT Indices: MDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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