Qioptiq Group Takeover Of Linos AG Successful

Düsseldorf — The way is now clear for the takeover of Linos AG, a global manufacturer of sophisticated optical systems, by the Qioptiq Group. The Qioptiq Group, a company specializing in the design and manufacture of high-precision optical components and modules for military and commercial applications, has gained control of 77.73 percent of the 5,511,999 million outstanding shares in Linos AG. This fulfills the last remaining condition of the takeover bid. The German Federal Monopolies Commission and its Austrian equivalent, the Federal Competition Agency, had previously granted their approval. The Qioptiq Group, a company in the Candover portfolio, one of the leading private equity companies in Europe, had made the approval of the above-mentioned authorities a condition for the cash offer to the Linos shareholders.

As part of the takeover bid – the takeover period expired at midnight (CEST) on Oct. 6, 2006 – 2,036,735 Linos shares were offered to the Qioptiq Group for purchase. This corresponds to 36.95 percent of the outstanding shares. Furthermore the Qioptiq Group has purchased 40.78 percent of the outstanding shares directly from Prof. Gerd Litfin and members of his family. This clearly exceeds the minimum acceptance ratio of 75 percent.

Benoit Bazire, CEO of the Qioptiq Group said: "We are delighted that we were shown such enormous support, not only by Prof. Litfin and the members of his family, but also by the other shareholders. We also invite the remaining Linos shareholders to accept our attractive offer of EUR 16 per share." The extended acceptance period begins on October 13, 2006 and terminates at midnight (CEST) on October 26, 2006.

SOURCE: Qioptiq Group