Tender offer for DOUGLAS Holding AG successful

(PresseBox) (Frankfurt am Main, ) .
- 93 percent of shares attained
- All offer conditions satisfied
- Additional acceptance period to begin 8 December 2012

The DOUGLAS founding family Kreke and Advent International today announced that the voluntary public tender offer for DOUGLAS Holding AG was successful.

By the end of the acceptance period on 4 December 2012, 31,482,655 shares had been tendered to Beauty Holding Three AG, a holding company indirectly held by funds advised by Advent International. Together with the share purchase agreement signed with Lobelia Beteiligungs GmbH (the Kreke family) for 12.73 percent, this makes up a total shareholding of 92.57 percent. In addition, Beauty Holding Three AG has made share purchases outside the tender offer of further 0.44 percent.

The 75 percent minimum acceptance threshold condition and all other offer conditions have been satisfied. Accordingly, DOUGLAS shareholders who have tendered their shares are expected to receive payment of the offer price of EUR 38 per share on 14 December 2012.

As provided for in the German Securities Acquisition and Takeover Act (WpÜG), an additional acceptance period of two weeks will follow. This period begins on 8 December 2012 and ends at midnight (CET) on 21 December 2012. During the additional acceptance period, DOUGLAS shareholders who have not yet accepted the offer can tender their shares for the offer price of EUR 38 per share in cash. Settlement for shares tendered in this additional acceptance period is expected to take place in the beginning of January 2013.

"We have attained our objective of transferring the DOUGLAS Group into a new, stable ownership structure. That is something I am delighted about. We already look forward to working with Advent International to further the strategic development of our Group and to place it on a long-term growth trajectory. As we move forward, our most important success factor remains our motivated workforce," said Dr. Jörn Kreke, founder and Chairman of the Supervisory Board of DOUGLAS Holding AG.

Ranjan Sen, General Manager of Advent International GmbH in Frankfurt, added: "We are pleased by the high acceptance rate, which underlines the attractiveness and strategic logic of the voluntary public tender offer. Advent International will, together with the Kreke family and the management, support the DOUGLAS Group in systematically building on its strengths and accelerating their international expansion plans. We particularly look forward to continue working with Dr. Jörn Kreke and Dr. Henning Kreke in their respective capacities as Chairman of the Supervisory Board and Chairman of the Executive Board."

About DOUGLAS Holding AG

With annual sales of more than EUR 3 billion, the DOUGLAS Group ranks amongst the leading European retailers. As a company listed in the MDAX the DOUGLAS Group represents "Excellence in Retailing" - with outstanding service, top quality products, an experiential store ambiance, and the friendliest employees in the business. The Group's five retail divisions - Douglas perfumeries, Thalia bookstores, Christ jewelry stores, AppelrathCüpper fashion stores, and Hussel confectioneries - are among the market leaders and trendsetters in their respective sectors. The more than 24,000 employees provide a high level of service in the 1,900 specialty stores. In its state-of-the-art online shops the DOUGLAS Group also offers its outstanding service on the Internet.

For further information please go to www.douglas-holding.com.

Important legal information / Disclaimer

This announcement is neither an offer to purchase nor an invitation to submit for sale the shares of DOUGLAS Holding AG. The terms and conditions of the takeover offer as well as other provisions pertaining to the takeover offer are solely governed by the offer document which is published in the internet under http://www.douglas-offer.com. The terms and conditions of the takeover offer may differ from the general information described here. It is urgently recommended that investors and owners of shares of DOUGLAS Holding AG ("Douglas Shareholders") read the entire offer document and all documents connected with the takeover offer, because they contain important information.

This announcement contains specific forward-looking statements. These statements do not represent facts and are characterised by words such as "expect", "believe", "estimate", "intend", "aim", "assume" or similar expressions. Such statements express the intentions, opinions or current expectations of Beauty Holding Three AG (the "Bidder") and persons acting in concert with the Bidder pursuant to Section 2 para. 5 sentence 1 and sentence 3 of WpÜG with respect to possible future events, e.g., regarding the possible consequences of the takeover offer for DOUGLAS Holding AG, for those DOUGLAS Shareholders who choose not to accept the takeover offer or for future financial results of DOUGLAS HOLDING AG. Such forward-looking statements are based on current plans, estimates and forecasts which the Bidder and the persons acting in concert with the Bidder pursuant to section 2 para. 5 sentence 1 and sentence 3 of WpÜG have made to the best of their knowledge, but which do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and generally cannot be influenced by the Bidder and persons acting in concert with the Bidder within the meaning of Section 2 para. 5 sentence 1 and sentence 3 of WpÜG. The forward-looking statements contained in this announcement could turn out to be incorrect; future events and developments could considerably deviate from the forward-looking statements contained in this announcement.

The takeover offer is issued exclusively under the laws of the Federal Republic of Germany, expecially under the WpÜG and the Regulation on the Content of the Offer Document, Consideration for Takeover Offers and Mandatory Offers and the Release from the Obligation to Publish and Issue an Offer ("WpÜG Offer Regulation") and certain applicable provisions of U.S. securities law. The takeover offer is not executed according to the provisions of jurisdictions (including the jurisdictions of Canada, Australia, and Japan) other than those of the Federal Republic of Germany and certain applicable provisions of U.S. securities law. Thus, no other announcements, registrations, admissions or approvals of the takeover offer outside the Federal Republic of Germany have been filed, arranged for or granted. The Douglas Shareholders cannot rely on having recourse to provisions for the protection of investors according to another jurisdiction than that of the Federal Republic of Germany. Any contract that is concluded on the basis of this takeover offer is exclusively governed by the laws of the Federal Republic of Germany and is to be interpreted in accordance with them.

DOUGLAS Shareholders in the United States (the "U.S. Shareholders") are notified that this takeover offer is being made in respect of securities of a company that is a foreign private issuer within the meaning of the Securities Exchange Act of of the United States of 1934, as amended (the "Exchange Act") and whose shares are not registered pursuant to Section 12 of the Exchange Act. Before deciding to sell DOUGLAS Shares, U.S. Shareholders should carefully read the section "Important information for U.S. Shareholders" of the offer document because there are considerable differences between this takeover offer and public tender offers for securities of U.S. companies.

This takeover offer is being made in reliance on, and in compliance with exemptions from the application of certain provisions of the Exchange Act. Consequently, the Bidder is not required to comply with all of the tender offer rules under the Exchange Act and accordingly is subject to publication and other procedural requirements with regard to, inter alia, withdrawal rights, offer period, settlement procedures, and timing of payments, which may differ from the relevant requirements governing public tender offers in the United States.


Advent International
Westhafenplatz 1
D-60327 Frankfurt am Main
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