EQS-News

home24 SE: home24 supports XXXLutz takeover bid - new investor subscribes to 10% capital increase - the new partnership strengthens market position and growth prospects for both companies

EQS-News: home24 SE / Key word(s): Offer/Capital Increase home24 SE: home24 supports XXXLutz takeover bid - new investor subscribes to 10% capital increase - the new partnership strengthens market position and growth prospects for both companies 05.10.2022 / 18:37 CET/CEST The issuer is solely responsible for the content of this announcement.  home24 supports XXXLutz takeover bid - new investor subscribes to 10% capital increase - the new partnership strengthens market position and growth prospects for both companies

 

• XXXLutz Group announces voluntary public takeover offer for the acquisition of up to 100% of the shares on home24 SE
• The offer of 7.50 euros per home24 share corresponds to a premium of 124% on the closing price on 4 October 2022
• XXXLutz subscribes to a capital increase of just under 10% of the company's share capital at a price per share of 7.50 euros
• Through the support of major shareholders in providing irrevocable undertakings to tender their shares along with the shares coming from the capital increase, share purchases already made and other instruments, XXXLutz has already secured a total of c. 60% of the shares in the future share capital of home24
• By bundling its successful business models, home24's market position as a pure-play home & living e-commerce destination is to be further strengthened and expanded
• home24 will remain independent and will continue to be led by the current management team. The company's headquarters in Berlin and the existing corporate structure with the home24 Group's main locations and core brands, including home24 and Butlers, will be retained
• The Management Board and Supervisory Board of home24 plan to support the Offer subject to their duties of care and their fiduciary duties and the review of the offer document to be published by the Bidder

BERLIN, 5 OCTOBER 2022 - The Austrian XXXLutz KG plans to acquire home24 SE. In this context, home24 has entered into a Business Combination Agreement with XXXLutz KG and its subsidiary, RAS Beteiligungs GmbH.  XXXLutz has announced a voluntary public takeover offer today for all outstanding shares of the Company at a price of EUR 7.50 per home24 share (the "Offer Price"). The Offer Price represents a premium of 124% to the XETRA closing price on October 4, 2022 and a premium of 142% to the volume weighted average share price during the last three months.