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03.12.2018 – 10:12

B&C Industrieholding GmbH

EANS-News: Clarification Statement of B&C Privatstiftung and B&C Industrieholding GmbH (B&C) with respect to UniCredit Group

  Corporate news transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is responsible for the content of this announcement.

Justice/Processes/Company Information/Contracts

Vienna - 1. In a transaction dated 2008, B&C repurchased all profit
participation rights (Genussrechte) to B&C's industrial shareholdings from
UniCredit Group (UniCredit). B&C paid a total purchase price of approx. EUR1.2
billion to UniCredit.

2. As part from this transaction, UniCredit formally waived its position as
beneficiary (Begünstigte) of B&C Privatstiftung and assigned any remaining and
any future benefits and rights, if any, to B&C.

3. The purpose of this transaction included B&C Privatstiftung's definitive
legal and commercial separation from UniCredit to allow B&C Privatstiftung's
unhindered pursuit of its foundation purpose, in particular, to support Austrian

4. It came to our attention that UniCredit contemplates pursuing transactions
with the objective of monetizing its purported position as beneficiary
(Begünstigte) of B&C Privatstiftung, despite its formal waiver in 2008, and to
sell its position as beneficiary upon dissolution (Letztbegünstigte).

5. In B&C Privatstiftung's and B&C's opinion, the pursuit of such transactions
a) constitute a breach of law and contract by UniCredit, likely also by any
party deciding to enter into such transactions with UniCredit while being aware
of the given circumstances; and
b) not lead to a transfer of the waived position as beneficiary (Begünstigte) or
the position as beneficiary upon dissolution (Letztbegünstigte).

6. B&C Privatstiftung and B&C will vigorously defend their rights against
UniCredit and any third party attempting to participate in any such

Further inquiry note:
Jürgen Gangoly, Jörg Wollmann, The Skills Group GmbH
Phone: +43 1 5052625-0

Dr. Peter Winkler, Attorney-at-law, Eisenberger & Herzog Rechtsanwalts GmbH
Phone: +43 160636470

end of announcement                         euro adhoc

issuer:       B&C Industrieholding GmbH
              Universitätsring 14
              A-1010 Wien
phone:        +43 (0) 1 531 01 - 0
FAX:          +43 (0) 1 531 01 - 102
ISIN:         -
language:     English

Original content of: B&C Industrieholding GmbH, transmitted by news aktuell