24.04.2006 

Ad hoc disclosure pursuant to Section 15 of the German-Securities Trading Act [WpHG]

Ad hoc disclosure concerning the acquisition of the chilean salt producer Sociedad Punta de Lobos

K+S signs agreement to purchase Chilean salt producer SPL S.A. / Debt-free purchase price of USD 477 million agreed for 99.3% of the shares / Closing still expected in Q2, 2006 / Cartel authority approvals still required

On Saturday, 22 April 2006, the Board of Executive Directors of K+S Aktiengesellschaft signed an agreement on the purchase of 99.3% of the shares of Sociedad Punta de Lobos S.A. (SPL), Chile. Assuming a debt-free value for the company of USD 480 million, K+S AG will acquire the Chilean salt producer for a purchase price of USD 477 million (just € 390 million) with economic effect from 1 May 2006. Subject to cartel authority approval, it is expected that the closing of the transaction, i.e. the transfer of the shares and the payment of the purchase price, will still take place in the second quarter of 2006. An offer to buy out the remaining minority shareholders is to be extended in the near future. The purchase price will be financed with available liquidity as well as borrowings. The acquisition of SPL should already impact positively on earnings per share for the K+S Group in 2006.

Further information about the acquisition of Chilean Sociedad Punta de Lobos can be obtained from a K+S Group press release that is also being released today at www.k-plus-s.com.

K+S Aktiengesellschaft
Kassel, 24 April 2006

The Board of Executive Directors

End of ad hoc disclosure

 

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