Ad-hoc | 19 May 2011 08:01
United Internet AG / Key word(s): Disposal
19.05.2011 08:01
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Montabaur, May 19, 2011. In connection with the announcement made today by
VictorianFibre Holding GmbH, a holding company controlled by funds advised
by Kohlberg Kravis Roberts & Co. L.P. (together with affiliates, 'KKR'),
that it intends to make a public offer to all shareholders of Versatel AG
to buy their Versatel shares, the Management Board of United Internet AG
(ISIN DE0005089031) states the following:
United Internet AG has undertaken to sell the Versatel shares it holds
(11,492,000 units) to KKR at a price of EUR 5.50 per share. The
corresponding agreements were signed today. Of the total purchase price of
EUR 63.2 million, an amount of EUR 3.4 million will be paid in cash while
payment of the remaining EUR 59.8 million is to be deferred in the form of
an interest-free vendor loan until the expiry of 17 months from completion
of the transaction.
Completion of the transaction is subject to approval from the respective
anti-trust authorities.
On expiry of 17 months from completion of the transaction, United Internet
is to be granted the option of purchasing 25.1% of shares in the holding
company founded by KKR for the Versatel acquisition at the same conditions
as KKR.
For the period of 17 months from completion of the transaction, United
Internet shall also receive a call option for 100% of shares in the holding
company founded for the acquisition by KKR, which can be exercised during
specified exercise windows.
In the course of the transaction, United Internet and KKR have agreed a
long-term cooperation regarding the further development of Versatel AG.
Following the completion of the transaction, United Internet will also
serve on committees of Versatel AG. Moreover, United Internet and KKR
intend to cooperate closely in the private customer business.
The transaction is to be completed in the 3rd quarter of 2011. From the
current perspective, United Internet expects to receive income of approx.
EUR 15 million from the sale of Versatel shares, which it will use for a
further increase in its new customer acquisition activities.
Marcus Schaps
Head of Press and Public Relations
United Internet AG
Elgendorfer Strasse 57
56410 Montabaur
Germany
Phone: +49 2602/96-1076
Fax: +49 2602/96-1013
Email: mschaps@united-internet.de
Internet: www.united-internet.de
19.05.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: United Internet AG
Elgendorfer Straße 57
56410 Montabaur
Deutschland
Phone: +49 (0)2602 / 96 - 1100
Fax: +49 (0)2602 / 96 - 1013
E-mail: info@united-internet.de
Internet: www.united-internet.de
ISIN: DE0005089031
WKN: 508903
Indices: TecDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard);
Freiverkehr in Düsseldorf, Hamburg, Hannover, München,
Stuttgart
End of Announcement DGAP News-Service
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