Capital market-relevant press releases, 2007-08-07, 04:58 PM
Joint Press Release of ThyssenKrupp AG, E.ON AG and RWE AG
ThyssenKrupp, RWE and E.ON came to an agreement with the foundation "RAG-Stiftung" today to sell their shares in the RAG Aktiengesellschaft to the RAG-Stiftung. The three shareholding companies hold a total of 90% of the share capital. The blocks of shares are expected to be transferred on November 30, 2007 for a symbolic price of €1 each. The shareholding companies commissioned the reputable auditing company Ernst & Young of Düsseldorf to provide a detailed valuation of the RAG shareholding in the form of an expert report. According to this report, the shareholdings have no positive value.
The three RAG shareholding companies have taken this step to support the further implementation of the concept agreed upon between the federal government and the coal-producing states of North Rhine-Westphalia and the Saarland regarding their exit from subsidised German hard-coal mining.