euro adhoc: Air Berlin PLC
Mergers - Acquisitions - Takeovers
Air Berlin
concludes contract for the take over of Condor Flugdienst GmbH - 75.1 percent of
Condor to be acquired in February 2009 and the remaining 24.9 percent in
February 2010
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Take over Condor
20.09.2007
Ad-hoc Press Release as per Article 15 of the Securities Trading Act
London, 20 September 2007 - Air Berlin PLC hereby announces that it
has agreed with Thomas Cook AG ("Thomas Cook") to a two-step
acquisition of the shares of Condor Flugdienst GmbH ("Condor") by
means of a share swap. On 10 February 2009, Air Berlin will acquire
the 75.1 percent share Thomas Cook currently holds in Condor. The
remaining 24.9 percent of Condor will be acquired in February 2010,
subsequent to Thomas Cook acquiring said 24.9 percent of Condor from
Deutsche Lufthansa AG ("Lufthansa") in February 2009 by exercising a
purchase option. In return for its share in Condor, Thomas Cook will
receive Air Berlin shares to be issued, which, depending on the
market quotation at the time the agreement is implemented, are valued
at EUR 380 million to EUR 475 million. In the process, Thomas Cook is
likely to acquire an interest of up to 29.99 percent in Air Berlin.
The acquisition of the Condor shares is subject to approval by the
competent cartel authorities. The agreement on the mutual
participation concluded between Air Berlin and Thomas Cook is still
subject to Deutsche Lufthansa AG not exercising a contractual
pre-emption right. Subsequent to the closing of the first step of the
acquisition transaction scheduled to take place in February 2009,
Thomas Cook will be represented on the Board of Directors of Air
Berlin PLC. Air Berlin estimates that the synergies resulting from a
successful takeover will amount to at least EUR 70 million per year.For additional information, please consult our IR-website at ir.airberlin.com.
Air Berlin PLC The Hour House 32 High Street Rickmansworth WD3 1ER Hertfordshire Great Britain WKN AB1000 (Share) Frankfurt Stock Exchange (Official Market, Prime Standard) WKN AONQ9H (Convertible Bond) Euro MTF Market on the Luxembourg Stock Exchange
end of announcement euro adhoc 20.09.2007 06:00:00
Further inquiry note:
Ingolf Hegner
Head of Investor Relations
+49 (0)30 3434 1532
ihegner@airberlin.com
Branche: Air Transport
ISIN: GB00B128C026
WKN: AB1000
Index: Classic All Share, Prime All Share, SDAX
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade