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DGAP-Adhoc: Celesio AG: Discussion of the conclusion of a Domination and Profit and Loss Transfer Agreement and provisional

DGAP-Adhoc: Celesio AG: Discussion of the conclusion of a Domination and Profit 
and Loss Transfer Agreement and provisional determination of the compensation, 
guaranteed dividend and/or annual recurring compensation payment

Celesio AG  / Key word(s): Miscellaneous

14.05.2014 11:53

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Stuttgart, 14 May 2014. The Management Board of Celesio AG today discussed
the conclusion of a Domination and Profit and Loss Transfer Agreement
between Celesio AG as the controlled company and Dragonfly GmbH & Co. KGaA,
Frankfurt am Main (a 100% indirect subsidiary of McKesson Corporation, San
Francisco, USA) as the controlling company. The subject matter of the
discussions was, inter alia, the company valuation of Celesio AG conducted
by KPMG AG Wirtschaftsprüfungsgesellschaft (KPMG) as independent evaluator
on behalf of Celesio AG and Dragonfly GmbH & Co. KGaA. On the basis of its
deliberation and the valuation of KPMG, the Management Board of Celesio AG
reached an agreement with the management of Dragonfly GmbH & Co. KGaA to,
in all likelihood, determine the compensation pursuant to section 305
German Stock Corporation Act (AktG, Stock Corporation Act) in the envisaged
Domination and Profit and Loss Transfer Agreement for the benefit of the
outside shareholders at an amount of EUR 22.99 per Celesio share. The
compensation corresponds to the volume-weighted average stock exchange
price of the Celesio share in the relevant three-months period ending on
(and including) 22 January 2014 as determined by the Germany Federal
Financial Supervisory Authority (Bundesanstalt für
Finanzdienstleistungsaufsicht, BaFin). On 23 January 2014, Dragonfly GmbH &
Co. KGaA had published its intention to enter into a domination and profit
and loss transfer agreement with Celesio AG. This stock exchange price
which is relevant for the compensation exceeds the value of EUR 22.42 per
Celesio share as determined by KPMG in the valuation of Celesio AG pursuant
to the valuation standard IDW S1. The Management Board of Celesio AG and
the management of Dragonfly GmbH & Co. KG have further agreed to provide
for a fixed guaranteed dividend and an annual recurring compensation
payment pursuant to section 304 Stock Corporation Act in an anticipated
amount of gross EUR 0.83 (in this specific case this corresponds to EUR
0.83 also on a net basis) per Celesio share for each complete fiscal year.
The court-appointed contract auditor Ebner Stolz GmbH & Co. KG
Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft, Stuttgart, has
confirmed the amounts of the compensation and the guaranteed dividend and
annual recurring compensation payment to each be adequate (angemessen)
according to the current status of the audit. The final audit report of the
court-appointed contract auditor remains outstanding. After the delivery of
the audit report by Ebner Stolz GmbH & Co. KG, the Management Board and
Supervisory Board of Celesio AG shall resolve upon the conclusion of the
Domination and Profit and Loss Transfer Agreement, presumably on 22 May
2014. Thereafter, the Agreement shall be concluded. In order to become
effective, the Domination and Profit and Loss Transfer Agreement requires
the approval of the general shareholders' meeting of Celesio AG, which
shall be sought in the Annual General Meeting scheduled for 15 July 2014,
the approval of the general shareholders' meeting of Dragonfly GmbH & Co.
KGaA and the registration in the commercial register of Celesio AG.


Contacts Celesio Group

Investor Relations:
Markus Georgi, Celesio AG, +49 (0)711.5001-1208
investor@celesio.com
Michael Otto, Celesio AG, +49 (0)711.5001-635
investor@celesio.com

Media:
Marc Binder, Celesio AG, +49 (0)711.5001-380
media@celesio.com
Rainer Berghausen, Celesio AG, +49 (0)711.5001-549
media@celesio.com


14.05.2014 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:      Celesio AG
              Neckartalstr. 155
              70376 Stuttgart
              Germany
Phone:        +49 (0)711 5001-735
Fax:          +49 (0)711 5001-740
E-mail:       investor@celesio.com
Internet:     www.celesio.com
ISIN:         DE000CLS1001, DE000CLS1043
WKN:          CLS100, CLS104
Indices:      MDAX
Listed:       Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
              Standard), München, Stuttgart; Freiverkehr in Hamburg,
              Hannover; Terminbörse EUREX
 
End of Announcement                             DGAP News-Service
 
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