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Deutsche EuroShop Announces Investor Agreement With Hercules BidCo GmbH

Deutsche EuroShop AG, on Monday, said it has entered into an investor agreement with Hercules BidCo GmbH, pursuant to which Hercules BidCo will make a voluntary public takeover offer for all outstanding shares of the company for EUR 21.50 per share in cash.

In addition, the company stated that its shareholders who accept the Offer will receive the amount of the dividend payable for the financial year 2021, which is expected to be EUR 1.00 per share, resulting in a total offer value of EUR 22.50 per share.

The offer values Deutsche EuroShop at an equity value of about EUR 1.4 billion. The Offer represents a premium of 44.0% to the Xetra closing price of the Shares on 20 May 2022 (EUR 15.63).

The Bidder, Hercules BidCo, is a subsidiary of Hercules Holdings, a holding company which will in the future be jointly controlled by affiliates of Oaktree Capital Group Holdings GP, LLC and the limited partnership CURA Verm?gensverwaltung G.m.b.H. & Co. Ultimately controlled by Alexander Otto.

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