Private shareholders have sold a 34% stake in UNION TANK Eckstein Group to Edenred

Private shareholders have entered into a definitive agreement involving the sale of a 34% stake in UNION TANK Eckstein GmbH & Co.KG and in UNION TANK Eckstein GmbH, Kleinostheim, including their various participations (together “UNION TANK Eckstein Group” or “UTA”) replacing BP Europa SE, Hamburg, with Edenred SA, Malakoff, as a new strategic partner. Daimler AG, Stuttgart, remains a strategic partner of UTA, holding a 15% stake. The transaction includes an option for Edenred, exercisable between 2017 and 2019, to purchase additional shares from the private shareholders, which will enable Edenred to extend its stake in UTA to 51%. The purchase price amounts to around Euro 150 million. The closing of the transaction is subject to the approval of the European competition authorities.

“We are delighted to join forces with UTA, which has extensive expertise in the European fuel card market and a unique network of service stations and tolls,” said Jacques Stern, Edenred’s Chairman and CEO. “This transaction represents an exceptional opportunity for Edenred. It will enable us to become a global player in expense management and to make this the second pillar of our offering.”

“We are excited about this strategic alliance with Edenred,” commented Klaus Eckstein and Willem van Dedem, UTA’s private shareholders. “Its dynamic sales force and recognized expertise in prepaid corporate services will allow us to continue to enjoy sustained growth.”

About UNION TANK Eckstein Group

Founded in 1963, UTA provides expense management solutions for commercial vehicle fleets to more than 60,000 European clients, of which nearly 70% are based in Germany. With the service cards issued by UTA, clients can purchase fuel and services from a network of more than 33,000 affiliated service stations and settle tolls in 22 European countries. UTA also provides value-added services including tracking and reporting of travel information, VAT and fuel tax recovery services, as well as on-road assistance and maintenance services. In addition to its own branded cards, UTA, in cooperation with Daimler AG, issues and manages the Mercedes Service Card, granting access to UTA’s services, as well as Mercedes-Benz service centers. UNION TANK Eckstein Group has c. 400 employees and is headquartered in Kleinostheim, Germany.

About Edenred SA

Edenred is a world leader in prepaid corporate services. The company operates in 42 countries with nearly 640,000 clients, 1.4 million affiliated merchants and 40 million beneficiaries: Edenred designs and delivers solutions that improve the efficiency of organizations and enhance the purchasing power of individuals. The company invented the Ticket Restaurant® meal voucher. In 2013, total issuance volume amounted to Euro 17.1 billion, of which almost 80% was generated in emerging markets. Edenred has more than 8,000 employees and is headquartered in Malakoff, France. The company is listed on Euronext Paris.

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