IR Releases - Archive

December 20, 2002

Deutsche Bank reduces Südzucker stake to 4.8 percent

Deutsche Bank reduced its stake in Südzucker AG from 10.9 percent to 4.8 percent. The bank sold 4.5 percent to a subsidiary of Raiffeisen-Holding Niederösterreich-Wien and 1.6 percent to Süddeutsche Zuckerrüben-verwertungs-Genossenschaft. The proceeds are roughly EUR 160 million, of which more than half has a P&L impact.

This transaction forms part of Deutsche Bank's ongoing policy of disposing of its remaining shareholdings in listed companies.

Deutsche Bank has also agreed with the two buyers of the Südzucker shares that it will not sell more Südzucker shares on the capital market without their approval before the beginning of 2005. This agreement gives the buyers the possibility of buying more Südzucker shares from Deutsche Bank.

Deutsche Bank holds its remaining 4.8 percent stake in Südzucker AG through its 100 percent subsidiary DB Value GmbH. Süddeutsche Zuckerrübenverwertungs-Genossenschaft will have a 56 percent shareholding and Raiffeisen-Holding Niederösterreich-Wien Group a 10 percent stake in Südzucker AG.

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