Stuttgart, 13 February 2009. The acceptance period for the mandatory offer of Porsche Automobil Holding SE, Stuttgart, to the shareholders of Scania AB, Södertälje, Sweden, ended on Tuesday, 10 February 2009. With 4,398,139 A-shares and 59,037,822 B-shares, Scania shares in the value of approximately 395 million Euro were tendered to Porsche. This corresponds to approximately 7.93 percent of the share capital and approximately 2.34 percent of the voting rights. The clearing of the offer, the so-called settlement, is envisaged to take place on 20 February 2009. Porsche intends to resell the tendered Scania shares on short notice.
On 5 January 2009, Porsche had increased its interest in Volkswagen AG to approximately 50.76 percent of the ordinary voting shares in Volkswagen. Therewith, Porsche held more than 50 percent of all voting rights in Volkswagen. As a result therefrom and due to the fact that Volkswagen's interest in Scania exceeded the statutory threshold of 30 percent of all voting rights, Porsche had acquired indirect control of Scania according to Swedish takeover law. Porsche was therefore obliged to launch a mandatory offer for those Scania shares that were not under its direct or indirect control. In light of this, the mandatory offer extended to all Scania shares which were not held by Volkswagen or any other company directly or indirectly controlled by Porsche.
According to information available to Porsche, Volkswagen currently holds approximately 302.87 million
A-shares and approximately 28.02 million B-shares in Scania which in the aggregate represent approximately 41.36 percent of the share capital and approximately 69.47 percent of the voting rights in the Swedish truck manufacturer. The sum of the Scania shares for which the mandatory offer was accepted and the Scania shares which are indirectly held by Porsche through Volkswagen therefore amounts to approximately 307.27 million Ashares and approximately 87.06 million B-shares. This corresponds to a holding of approximately 49.29 percent of the share capital and approximately 71.81 percent of the voting rights.
K-GO
