DGAP-News

Squeeze-out initiated for DOUGLAS HOLDING AG

DGAP-News: Beauty Holding Three AG / Key word(s): Offer
Squeeze-out initiated for DOUGLAS HOLDING AG

15.01.2013 / 12:23

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Squeeze-out initiated for DOUGLAS HOLDING AG

Frankfurt am Main, 15 January 2013 - Beauty Holding Three AG, a holding
company indirectly held in part by funds advised by Advent International
and in part by the Kreke family, today initiated a squeeze-out of minority
shareholders against payment of a cash compensation in order to acquire all
shares in DOUGLAS HOLDING AG.

At over 95 percent, the size of Beauty Holding Three AG´s shareholding in
DOUGLAS HOLDING AG facilitates a squeeze-out of the minority shareholders
and hence a de-listing of DOUGLAS HOLDING AG. To this end, DOUGLAS HOLDING
AG has been notified of Beauty Holding Three AG´s request for a resolution
to be passed at the next general meeting, under which all shares held by
minority shareholders are to be transferred by way of a squeeze-out to
Beauty Holding Three AG as majority shareholder. The size of the cash
compensation will be determined at a later date. The next general meeting
of DOUGLAS HOLDING AG is due to be held in May 2013.

Beauty Holding Three AG had published a voluntary public tender offer on
October 31, 2012; the tender offer was accepted by a large number of
shareholders. In total, Beauty Holding Three AG now holds 96.17 percent of
shares in DOUGLAS HOLDING AG. As the 95 percent threshold has been passed,
all shareholders who have so far not accepted the tender offer during the
acceptance period or the additional acceptance period can tender their
shares for the price of EUR 38 per share in cash during a further tender
period ending at midnight CET on March 20, 2013.

Ranjan Sen, General Manager of Advent International GmbH in Frankfurt: ´The
high acceptance rate of over 95 percent makes the squeeze-out the logical
next step for the partnership with DOUGLAS HOLDING and the Kreke family.
Under the new, stable ownership structure, DOUGLAS Group will benefit from
the de-listing and a significant reduction in regulatory requirements.´

Further information on the public tender offer may be accessed on
www.douglas-offer.com.

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 -