• Sale of 41.9% shareholding in Sixt Leasing SE to Hyundai Capital Bank Europe GmbH, a joint venture between Santander Consumer Bank AG and Hyundai Capital Services Inc.
• Based on a sales price of EUR 18.00 per share, the divestment generates a total consideration of EUR 155.6 million; sale yields an attractive premium of around 40.8% on the unaffected volume-weighted average price of the Sixt Leasing shares of the last three months
• Focusing management capacities and significant optimisation of balance sheet structure enables further expansion and growth in strategic core business
• Hyundai Capital Bank Europe GmbH to submit voluntary public takeover bid for all remaining shares in Sixt Leasing
• Erich Sixt, CEO of Sixt SE: “Following the IPO of Sixt Leasing SE in 2015, the current decision to divest our remaining shareholding constitutes a consistent strategic step.”

Pullach, 21.02.2020 – Sixt SE will fully divest its shareholding in its subsidiary Sixt Leasing SE. Today the international mobility service provider entered into an agreement with Hyundai Capital Bank Europe GmbH, a joint venture between Santander Consumer Bank Aktiengesellschaft and Hyundai Capital Services Inc., for the sale of its participation in Sixt Leasing SE (41.9% of the company’s share capital). 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 for each share sold. This equals a premium of around 40.8% on the unaffected volume-weighted average price of the Sixt Leasing shares of the last three months as of 18 February 2020¹. 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 completed prior to this year’s annual general meeting of Sixt Leasing SE, the purchase price would increase accordinglyto up to approximately EUR 163.4 million or up to EUR 18.90 per share sold. In this case, the afore mentioned premium would increase to up to round 47,9%.

This decision means that Sixt SE will focus even more on its activities in its “Mobility” business segment, which includes vehicle rentals as well as the new digital mobility services on the basis of the mobility platform ONE. In this segment, SIXT is the industry’s innovation leader and has for years outperformed competitors significantly. The primary focus remains on driving forward the ongoing digitisation and, in particular, the international expansion in the USA and Western Europe. According to current plans, leasing products will cease to be part of SIXT’s product portfolio in future.

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 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, amongst others, is subject to the condition that under the voluntary public takeover bid Hyundai Capital Bank Europe GmbH 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, amongst others, certain merger control and other regulatory clearances. Sixt SE expects the sale to be completed in the second half of 2020.

^{1 Data Source: Bloomberg as of 18. February 2020}