Sixt SE sells its participation in Sixt Leasing SE to Hyundai Capital Bank Europe GmbH

Pullach, 21 February 2020 - Today, Sixt SE entered into an agreement with Hyundai Capital Bank Europe GmbH, a joint venture of Santander Consumer Bank Aktiengesellschaft and Hyundai Capital Services Inc., regarding the sale of its entire participation in Sixt Leasing SE. Such participation consists of shares representing approximately 41.9% of the share capital of Sixt Leasing SE. The stock-listed Sixt Leasing SE is presently a fully consolidated subsidiary of Sixt SE. The purchase price agreed for the sale of the participation amounts to approximately EUR 155.6 million, or EUR 18.00 per sold share. In addition, Sixt SE will be entitled under the agreement to a dividend on its participation in Sixt Leasing SE for the financial year 2019, depending on the consolidated profit for the financial year 2019 as stated in the audited consolidated financial statements of Sixt Leasing SE, of up to EUR 0.90 per share. Against this background, Sixt SE has communicated to Sixt Leasing SE, subject to sufficient unappropriated profits, an expected dividend for the fiscal year 2019 in the amount of up to EUR 0.90 per share. Should the sale be closed prior to this year's annual general meeting of Sixt Leasing SE, the purchase price would be increased accordingly to up to approximately EUR 163.4 million or up to EUR 18.90 per sold share. Upon completion of the sale of Sixt SE's participation in Sixt Leasing SE, Sixt SE will presumably generate a mid-double-digit million euro amount as extraordinary pre-tax profit at group level.

In connection with the conclusion of the agreement with Sixt SE, Hyundai Capital Bank Europe GmbH announced its decision to make a voluntary public takeover bid to all shareholders of Sixt Leasing SE for the acquisition of the remaining shares in Sixt Leasing SE at an offer price in cash which corresponds to the above purchase price per share payable by Hyundai Capital Bank Europe GmbH also for the acquisition of the participation of Sixt SE in Sixt Leasing SE.

The completion of the sale of the participation of Sixt SE in Sixt Leasing SE will, amongst others, be subject to the condition that Hyundai Capital Bank Europe GmbH under such takeover bid reaches an acceptance quota of at least 55% of all shares in Sixt Leasing SE including the participation acquired from Sixt SE. In addition, the completion of the sale will be subject to Hyundai Capital Bank Europe GmbH having secured the financing for the transaction and certain merger control and other regulatory clearances. Sixt SE expects the sale to be completed in the second half of 2020.

Contact:
Nicole Schillinger
Head of Investor Relations
Sixt SE
Tel.: +49 (0)89 74444-5104
Email: [email protected]