Deutsche Postbank AG / Miscellaneous 12.09.2008 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Deutsche Post sells 29.75 per cent stake in Postbank to Deutsche Bank Deutsche Post has sold a minority stake of 29.75 per cent in Postbank to Deutsche Bank for Euro 2.79 bn or Euro 57.25 per share. The acquisition of this stake is subject to approval by regulatory and anti-trust authorities and the German Government and will close in the first quarter of 2009. In addition to the minority stake acquisition, Deutsche Post has granted Deutsche Bank an option to acquire an additional 18.0 per cent of Postbank for Euro 55.00 per share. This option can be exercised between 12 months and 36 months after acquisition of the initial 29.75 per cent stake. Moreover, Deutsche Post has granted Deutsche Bank a right of first refusal for its remaining Postbank shares. Deutsche Post has been granted a put option to sell its remaining stake of 20.25 per cent plus one share in Postbank to Deutsche Bank. Deutsche Post can exercise this option between 21 months and 36 months after acquisition of the initial 29.75 per cent stake at a price of Euro 42.80 per share. Furthermore, Deutsche Bank with its 14 million clients in private and business banking (thereof 9.7 million in Germany) and Postbank with its 14.5 million clients in Germany have agreed in principle to cooperate in several areas including the distribution of home finance and investment products. The cooperation is expected to have substantial revenue potential for both partners and the companies will finalise details shortly. Deutsche Banks and Postbanks service offering, which together include by far the biggest branch network in Germany, is highly complementary with attractive opportunities for cross-selling of financial products. Independently of the minority stake, both companies will continue to focus on growing their respective operating businesses. Deutsche Banks acquisition of a minority stake will have no impact on branches, jobs or the brand of Postbank. To further enhance the customer offering, Deutsche Post and Postbank intend to extend their existing retail outlet cooperation beyond 2012. Once the transaction has been closed the VAT group that currently exists between Postbank and Deutsche Post will no longer apply. The preconditions for that are the acquisition of a majority shareholding and the integration of personnel. With the discontinuation of the VAT group, the provision of certain services between Deutsche Post and Postbank will in the future be liable to VAT. In this respect, we anticipate expenses of around 30 million per annum to be recognized in the income statement due to non-deductible input VAT. Contact: Deutsche Postbank AG Zentrale Investor Relations Friedrich-Ebert-Allee 114-126 53113 Bonn Deutschland Telefon: +49 (0) 2 28 9 20-1 80 01 Telefax: +49 (0) 2 28 9 20-1 80 09 E-Mail: ir@postbank.de DGAP 12.09.2008 --------------------------------------------------------------------------- Language: English Issuer: Deutsche Postbank AG Friedrich-Ebert-Allee 114-126 53113 Bonn Deutschland Phone: +49 (0)228-920-18001 Fax: +49 (0)228-920-18009 E-mail: ir@postbank.de Internet: www.postbank.de ISIN: DE0008001009 WKN: 800100 Indices: DAX, MIDCAP, PRIMEALL, CLASSICALLSHARE, CDAX, HDAX Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard), Hannover, Düsseldorf, Hamburg, München, Stuttgart; Terminbörse EUREX End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: Deutsche Postbank AG: Deutsche Post sells 29.75 per cent stake in Postbank to Deutsche Bank
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