BayWa Ag Takeover of T and G

Ad-hoc release pursuant to Section 15 of the German Securities Trading Act (WpHG)


Transaction perfected: New Zealand's regulatory authority approves takeover of Turners & Growers by BayWa AG

The Overseas Investment Office (OIO), New Zealand's regulatory authority dealing with foreign investment, today approved the majority takeover of Turners & Growers Ltd (T&G) by BayWa AG. With official approval now granted, the public takeover tender offer submitted to the shareholders of T&G by BayWa AG in November 2011 is effective.

The German Federal Cartel Office had already given its approval at a prior date. Compensation for the sum total of 72.5 percent of the shares in T&G tendered to date comes to around NZ$ 157 million.

Although the tender offer period for the shareholders still runs until 7 March 2012, majority control of T&G will pass to BayWa on payment for the shares. The takeover is a ground-breaking step towards internationalization for BayWa.

In the future, BayWa’s CEO, Klaus Josef Lutz, will take over the chair of T&G’s Board of Directors. Additional members of the Board will be Andreas Helber, BayWa’s Chief Financial Officer, Dr. Josef Krapf, BayWa’s Board Member responsible for the Agriculture and Fruit business units, and Dietmar Bahler, head of the Fruit business unit.

BayWa Aktiengesellschaft, Arabellastraße 4, 81925 München, www.baywa.de
WKN 519406 // ISIN DE0005194062; WKN 519400 //
ISIN DE0005194005

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