EANS-Adhoc: DVB Bank SE Substantial gain expected to result from the sale of
an interest in TES Holdings Ltd
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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Company Information
03.04.2012
DVB Bank SE (DVB) has signed an agreement with the Mitsubishi Corporation,
Tokyo, Japan (MC) and the Development Bank of Japan Inc., Tokyo, Japan (DBJ),
pursuant to which MC and DBJ will acquire a 35.0% share and a 25.0% share
respectively in TES Holdings Ltd, Bridgend, United Kingdom from DVB. The
agreement is subject to required anti-trust clearance.
TES Holdings Ltd (TES) is the parent company of the TES Group, a leading
aircraft engine solutions provider.
Currently DVB indirectly holds 92.1% of the shares in TES. At closing of the
agreement it will first acquire the remaining 7.9% of the shares in TES and
immediately thereafter sell a total of 60.0% of the shares of TES to MC and DBJ.
DVB expects that these two shareholders will bring new business dimension and
opportunities to the TES Group.
If the sale of the 60.0% of the shares is completed, it will result in a
substantial gain in the 2012 business year.
The expected net capital gain on the sold shares would have increased the IFRS
Return on Equity before tax reported in 2011 by about 12.0%.
Frankfurt/Main, 3 April 2012
DVB Bank SE
BOARD OF MANAGING DIRECTORS
Wolfgang F. Driese
Bertrand Grabowski
Dagfinn Lunde
Further inquiry note:
Elisabeth Winter
Investor Relations
Tel: +49 (0)69-97504-329
E-Mail: elisabeth.winter@dvbbank.com
end of announcement euro adhoc
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issuer: DVB Bank SE
Platz der Republik 6
D-60325 Frankfurt am Main
phone: +49 (0)69 9750-40
FAX: +49 (0)69 9750-4444
mail: info@dvbbank.com
WWW: http://www.dvbbank.com
sector: Banking
ISIN: DE0008045501
indexes:
stockmarkets: free trade: Düsseldorf, Stuttgart, regulated dealing/general
standard: Frankfurt
language: English