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Press release, Hanover, 12 November 2007 NORD/LB plans strategic acquisition of shares in Deutsche Hypo On Sunday 11 November 2007, NORD/LB Norddeutsche Landesbank Girozentrale informed Deutsche Hypo that in the context of a voluntary, public takeover bid, it intends to make an offer to the shareholders of Deutsche Hypo of €36.09 per share. The Board of Managing Directors of Deutsche Hypo expressly welcomes this acquisition by NORD/LB, which is intended to take the form of a strategic investment. NORD/LB intends to run Deutsche Hypo as a participation. This takeover of Deutsche Hypo, a successful bank that is active on an international level in the real estate financing sector, promises to represent a logical extension to NORD/LB’s own business model. In the view of the Board of Managing Directors of Deutsche Hypo, NORD/LB is the ideal investor and partner: • NORD/LB’s motives for the takeover are of a strategic nature and place the expertise and quality of the staff at Deutsche Hypo, its market presence and its structure in the foreground. • The intention therefore is to continue Deutsche Hypo’s successful business model and to combine this with NORD/LB’s commercial real estate business, so as to form a platform for growth. The two core activities of Deutsche Hypo, namely its international commercial real estate business and its capital market business, will continue to be expanded. • The aim is for Deutsche Hypo to be run as a competence centre for real estate financing within the NORD/LB group. • The name of Deutsche Hypo, which is an established entity within the market for international commercial real estate financing sector, would continue to be used. • Cost synergies emphatically do not form the primary focus of this initiative. As a market player in the financing of commercial real estate, Deutsche Hypo is an established entity, both at home and abroad, and enjoys an outstanding reputation. Combining the strong position that both NORD/LB and Deutsche Hypo enjoy in this sector to form a joint operation to be conducted from offices in Hanover will constitute a logical continuation of Deutsche Hypo’s current, highly-successful business model, whilst providing scope to take advantage of growth opportunities both in new and existing commercial real estate markets. Once NORD/LB has published its offer documentation, the Board of Managing Directors and Supervisory Board of Deutsche Hypo will issue the statement required in accordance with the German Acquisition and Takeover of Securities Act [WpÜG], in which they will provide a detailed evaluation of the takeover bid. For further information please contact: Markus Nitsche Head of Marketing and Sales Georgsplatz 8 30159 Hannover Telefon: +49 511 3045-580 Telefax: +49 511 3045-589 E-Mail: Markus.Nitsche@Deutsche-Hypo.de |
