HORNBACH Holding AG & Co. KGaA (XTRA:HBH) made an offer to acquire remaining 23.6% stake in HORNBACH Baumarkt AG (XTRA:HBM) for approximately €360 million on December 20, 2021. HORNBACH Holding AG & Co.

KGaA made the offer to acquire shares at €47.5 per share. Post completion, HORNBACH Baumarkt AG will be delisted. The financing of the delisting tender offer is fully secured by a short-term credit facility, which will be replaced by a balanced long-term financing structure of debt and/or equity instruments.

Financing will be provided by Deutsche Bank and Commerzbank. The supervisory board of HORNBACH Baumarkt AG approved this delisting transaction. The offer document for the delisting tender offer can be published at the latest by the end of January 2022 after the necessary approval by the German Federal Financial Supervisory Authority and can be completed at the latest by the beginning of March 2022.

Offer has been approved by the German Federal Financial Supervisory Authority (“BaFin”). The Board of Management and the Supervisory Board of HORNBACH Baumarkt support the delisting tender offer and intend to recommend to HORNBACH Baumarkt shareholders to accept it. On January 21, 2022, the Management Board and the Supervisory Board consider the offer price of €47.50 in cash per HORNBACH Baumarkt share to adequately reflect the value of the HORNBACH Baumarkt share.

Tender Offer commenced on January 14, 2022 and will close on February 22, 2022. There will be no additional acceptance period. Michael Schlitt, Tim Oliver Brandi, Eva-Christina Sommer and Christian Seidel of Hogan Lovells International LLP acted as legal advisors to HORNBACH Baumarkt AG.

Deutsche Bank is acting as financial advisor and Tender Offer Agent and Rothschild & Co. as financial advisor in the transaction.