DGAP-Adhoc: AWD Holding AG:Cash compensation for squeeze-out and profit-transfer agreement set at EUR 30.00

AWD Holding AG / Squeeze Out

08.01.2009 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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AWD Holding AG: Cash compensation for squeeze-out and profit-transfer
agreement set at EUR 30.00 / Guaranteed dividend under the profit-transfer
agreement amounts to EUR 2.34 gross

Swiss Life Beteiligungs GmbH, Hanover, Germany, a 100% subsidiary of Swiss
Life Holding AG, Zurich, Switzerland, today informed the management board
of AWD Holding AG that it has set the cash compensation for the transfer of
shares by the minority shareholders of AWD Hold-ing AG to majority
shareholder Swiss Life Beteiligungs GmbH pursuant to Sections 327a et. seq.
(squeeze-out) of the German Stock Corporation Act (AktG) at EUR 30.00 per
share in AWD Holding AG.

Furthermore, Swiss Life Beteiligungs GmbH and AWD Holding AG today entered
into a profit-transfer agreement. The agreement foresees a cash
compensation offer pursuant to Section 305 of the German Stock Corporation
Act (AktG) of EUR 30.00 per share and a guaranteed dividend pursuant to
Section 304 of the German Stock Corporation Act (AktG) of EUR 2.34 gross
per share (equivalent to EUR 2.07 net per share according to the situation
at the time of entering into the agreement). These payment obligations will
be additionally secured by a letter of comfort from Swiss Life Holding AG.

The cash compensation for the squeeze-out as well as the cash compensation
offer according to Section 305 of the German Stock Corporation Act (AktG)and the guaranteed dividend pursuant to Section 304 of the German Stock
Corporation Act (AktG) are based on a valuation expertise prepared by
PricewaterhouseCoopers Aktiengesellschaft Wirtschaftsprüfungsgesellschaft,
Frank-furt am Main ('PwC'). According to the valuation by PwC, the value of
AWD Holding AG amounts to EUR 1,087.5 million. This constitutes a value of
EUR 28.14 per share. This amount exceeds the volume-weighted average
stock-exchange share price over the three months preced-ing the 24 November
2008, the day of the announcement of the extraordinary general meeting,
equalling EUR 27.93 per share. The management of Swiss Life Beteiligungs
GmbH has never-theless decided to agree to a cash compensation of EUR 30.00
per share in the profit-transfer agreement with AWD Holding AG and to offer
the same amount in the squeeze-out process. This amount equals the price
offered and paid by Swiss Life Beteiligungs GmbH to the AWD shareholders in
the context of the takeover of AWD Holding AG by Swiss Life Beteiligungs
GmbH.

Both the squeeze-out and the profit-transfer agreement require the approval
of a general meeting of AWD Holding AG. A resolution on such approval is to
be passed at the extraordinary general meeting to be held on 24 February
2009.

Hanover, 8 January 2009 

AWD Holding AG 
The Board of Management 
DGAP 08.01.2009 
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Language:     English
Issuer:       AWD Holding AG
              AWD-Platz 1
              30659 Hannover
              Deutschland
Phone:        +49 (0)511 9020-5120
Fax:          +49 (0)511 9020-5121
E-mail:       investor.relations@awd.de
Internet:     www.awd.de
ISIN:         DE0005085906
WKN:          508590
Listed:       Regulierter Markt in Frankfurt (Prime Standard), Hannover;
              Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
              Stuttgart
End of News                                     DGAP News-Service
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