DOCSLIB.ORG

HVB DIP 2009-Registration Document

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
HVB DIP 2009-Registration Document This document constitutes a registration document (the "Registration Document") of Bayerische Hypo- und Vereinsbank AG within the meaning of section 12 (1) of the German Securities Prospectus Act (Wertpapierprospektgesetz – "WpPG") in connection with Art. 14 and Annex XI of the Commission Regulation (EC) No. 809/2004 of 29 April 2004 (the "Regulation"). Bayerische Hypo- und Vereinsbank AG Munich, Federal Republic of Germany 20 May 2009 TABLE OF CONTENTS Risk Factors ........................................................................................................................................................... 3 Risks relating to Bayerische Hypo- und Vereinsbank AG .................................................................................. 3 Risks relating to HVB Group's Business ............................................................................................................. 4 Regulatory risks .................................................................................................................................................. 5 Responsibility Statement ...................................................................................................................................... 7 Bayerische Hypo- und Vereinsbank AG ............................................................................................................. 8 Information about HVB, the parent company of HVB Group ............................................................................ 8 Auditors ............................................................................................................................................................... 8 Ratings ................................................................................................................................................................ 8 Recent Developments.......................................................................................................................................... 9 Business Overview............................................................................................................................................... 12 Divisions of HVB Group (set-up as of March 2009) ........................................................................................ 12 Principal Markets .............................................................................................................................................. 14 Administrative, Management and Supervisory Bodies ..................................................................................... 14 Major Shareholders ........................................................................................................................................... 16 Selected Consolidated Financial Information ................................................................................................... 16 Legal Risks/Arbitration Proceedings ................................................................................................................ 21 General Information ........................................................................................................................................... 26 Availability of Documents ................................................................................................................................ 26 Significant Changes in Financial Positions and Trend Information .................................................................. 26 Documents incorporated by reference ............................................................................................................... 26 Audited financial statements of HVB as at 31 December 2008 ...................................................................... F-1 Audited consolidated financial statements of HVB as at 31 March 2009 .................................................... F-36 Signature page ................................................................................................................................................... Z-1 - 2 - RISK FACTORS The following is a disclosure of risk factors (the "Risk Factors") that are material with respect to the ability of Bayerische Hypo- und Vereinsbank AG ("HVB", and together with its consolidated subsidiaries, the "HVB Group") to fulfill its obligations under securities issued by it. Prospective investors should consider these Risk Factors before deciding to purchase securities issued by HVB, especially since in certain cases the investor may lose his entire investment or (substantial) parts of it. Prospective investors should consider all information provided in this registration Document and consult with their own professional advisers (including their financial, accounting, legal and tax advisers) if they consider it necessary. In addition, prospective investors should be aware that the risks described below may arise individually or cumulatively with other risks and might have mutually reinforcing effects. Words and expressions defined elsewhere in this Registration Document have the same meanings in this section. Risks relating to Bayerische Hypo- und Vereinsbank AG Issuer risk By purchasing the financial instruments issued by HVB, investors are financing the latter. As a result investors are subject to the risk that HVB is not able to honour its obligations relating to financial instruments where its financial condition will become negative. At the date of this Registration Document the financial condition of HVB is such that HVB is able to honour its obligations relating to financial instruments. Risks related to the transfer of the Bank Austria Creditanstalt shares to UniCredit The transfer at the beginning of 2007 of the investments in Bank Austria Creditanstalt (later on renamed as UniCredit Bank Austria AG) ("Bank Austria") and other units in central and eastern Europe resulted in substantial sales proceeds, but if – contrary to the expectations of the Management Board of HVB – the transfer of the shares in the Bank Austria Group and the other units in Central and Eastern Europe sold by HVB must be reversed, so that HVB must repay the proceeds from the sale to the buyers of the units, this would likely have serious detrimental effects on the expansion strategy pursued by HVB Group because it would then no longer have the high capital base and liquidity needed for this strategy. Moreover, as a result of the disposal of the Bank Austria Group and the operations in Central and Eastern Europe, the corporate group now has a stronger regional focus on Germany, which exposes it to developments on the German market and the German economy. Risks from the financial markets crisis and global economic crisis The Markets & Investment Banking ("MIB") division suffered from declines or losses notably in structured loans recorded in net trading income from the third quarter of 2007 up to the first quarter 2009. The subprime crisis originated from the United States of America and started in second half of 2007. Triggered by the loss in value of asset-backed papers based on subprime mortgages in the United States of America, there was a significant decrease in investors’ appetite for risk, resulting in liquidity bottlenecks on the money market, accompanied by a massive widening of credit spreads. Like the entire UniCredit Group, HVB Group has only a slight direct exposure to the underlying U.S. real estate crisis. The resulting financial market turbulence have also affected the European financial markets and meanwhile the global economy. Especially several countries and several industry segments are in severe economic difficulties. To a varying degree and extent, this has of course also affected the business operations and the profitability of HVB Group, in particular in the Markets & Investment Banking division in 2007 and 2008. These effects were most noticeable in structured credit products held for trading purposes and in the syndicated finance market. The global recession will in all probability continue as it will take a while for the global imbalances to reverse. HVB cannot preclude the possibility that the ongoing financial market crisis and the global economic crisis will affect business operations and the profitability of HVB Group in the future. With regard to risk-provisioning levels in 2009, HVB expects that the persistently difficult economic conditions looming ahead will lead to a sharp rise in the number of bankruptcies and that our risk provisioning levels will therefore significantly surpass those of 2008, which benefited from the success in reducing the special portfolios allocated to the Other/consolidation segment (former Real Estate Restructuring segment and Special Credit Portfolio). Tax implications – loss carry forwards The use of the substantial tax loss carry forwards (in particular in HVB) depends on certain conditions, which have to be fulfilled after the transfer of shares in HVB to UniCredit took place. If these conditions would not be fulfilled the tax loss carry forwards at the time of the transfer of shares to UniCredit would get lost retroactively. - 3 - Risks relating to HVB Group's Business A deterioration of HVB Group's ratings may pose significant risks for HVB Group's business The recognition of impairment losses, unforeseen defaults of large borrowers, financial results or capital ratios below expectations and a deterioration of the macro-economic environment in HVB Group's core markets may result in a lowering
Load more

Recommended publications
  • Collaborate, Understand, Innovate
    Collaborate, understand, innovate. 2013 Reports and Accounts his report describes the work that the UniCredit & Universities Foundation is doing to support the studies and research of TEurope’s brightest young minds. It details the full range of programs implemented by the foundation to assist promising young people develop original ideas in the fields of economics and finance. Collaboration, understanding, innovation, facilitation, selectivity and responsiveness are all key aspects of the UniCredit & Universities mission. These words express the motivations that underlie the foundation’s programs for students and researchers who want to make a difference. The foundation is committed to providing them with concrete solutions and tangible benefits that can clear a pathway to their future careers. At the heart of its activities, UniCredit & Universities listens closely to its scholars and fellows to ensure that it can provide them with direct and effective support. This is a vital part of the process of enabling them to focus on their work at the world’s best academic institutions. The foundation seeks to make these opportunities available to students and researchers in every community where UniCredit is present. Inside this report, you will find the full record of the activities and ideals embraced by UniCredit & Universities. The stories and statistics it contains are intended to further enhance foundation’s relationship with all of its stakeholders and reaffirm its commitment to its work. 2013 Reports and Accounts Collaborate Working more efficiently, with better results Effective academic work requires a willingness and an ability to interact well with everyone in the university environment. At UniCredit & Universities, collaboration is not only a way of working but also a mindset.
    [Show full text]
  • Giving Hardship the Red Card - Uninews
    Interview : Giving hardship the red card - UniNews https://uninews.unicredit.eu/en/articles/headlines/interview/?ida=13789 Home > Articles > Headlines > Interview > Details Giving hardship the red card September 12, 2012 On occasion of the UEFA Champions League final at the Munich it was announced that UniCredit Foundation and Hvb would be extending their partnership with the buntkicktgutassociation. On occasion of the UEFA Champions League final at the Olympiapark in Munich it was announced that UniCredit Foundation and Hvb would be extending their partnership with the Buntkicktgut association. It was back in 2009 that UniCredit first began supporting this association which uses street football as a tool for favouring integration among young immigrants that live in conditions of social hardship. The history and the goals of the project as described by Rudiger Heid, director and founder of buntkicktgut. Buntkicktgut is considered a pioneering project in street football. What does it consist of? Could you briefly talk about it? «It was around 1995/96 when I discovered that football and even more street football was an ideal and attractive medium for a continuous work with socially disadvantaged and marginalized young people - especially with a migration background. With my background as a geographer and a high sensitivity for issues of migration, ethnical or political conflicts and regional disparities I was engaged in so called community lodgings for war refugees and applicants for political asylum. Many individuals and families living there with their children came from Afghanistan and Africa, but most from former Yugoslavia in order to take refuge from the terrible and the whole decade lasting Balkan wars in the 1990s.
    [Show full text]
  • The Fc Bayern Munich Case Study
    SCUOLA DELLE SCIENZE UMANE E DEL PATRIMONIO CULTURALE Corso di Laurea Magistrale in Management dello Sport e delle Attività Motorie Corporate Social Responsibility in the Sport industry: the FC Bayern Munich case study TESI DI LAUREA DI RELATORE Dott. Gaspare D’Amico Chiar. Prof. Dr. Salvatore Cincimino CORRELATORE ESTERNO Chiar. Prof. Dr. Jörg Königstorfer – Chair of Sport and Health Management at Technical University of Munich ANNO ACCADEMICO 2016 – 2017 INDEX ACKNOWLEDGEMENT ABSTRACT………………………………………………………………………….1 INTRODUCTION…………………………………………………………………...3 I. CHAPTER – CORPORATE SOCIAL RESPONSIBILITY 1. Evolving Concepts and Definitions of CSR………………………………..6 1.1 Criticism and Defensive theory of CSR……………………………….11 1.2 The origin of Stakeholder Theory……………………………………..13 1.3 Standard and certification……………………………………………..17 1.4 Evaluation and control………………………………………………...22 II. CHAPTER – CORPORATE SOCIAL RESPONSIBILITY IN SPORTS INDUSTRY 2. Definition and general aspects of CSR in the sports industry…………......26 2.1 Stakeholders Model……………………………………………………33 III. CHAPTER – THE FC BAYERN MUNICH CASE STUDY 3. Use of Case Study Research………………………………………………50 3.1 Corporate Structure of FC Bayern Munich……………………………53 3.1.1 Ownership……………………………………………………….65 3.1.2 Management…………………………………………………….68 3.1.3 Team…………………………………………………………….77 3.2 Revenues and costs drivers of FC Bayern Munich……………………79 3.2.1 Revenues of Football club………………………………...…….81 3.2.1.1 Matchday…………………………………………..……..82 3.2.1.2 Broadcasting rights……………………………………….85 3.2.1.3 Commercial Revenues……………………………………90
    [Show full text]
  • How the Imperial Mode of Living Prevents a Good Life for All for a Good Life the Imperial Mode of Living Prevents – How Researchers and Activists
    I.L.A. Kollektiv I.L.A. Kollektiv Today it feels like everybody is talking about the problems and crises of our times: the climate and resource crisis, Greece’s permanent socio-political crisis or the degrading exploitative practices of the textile industry. Many are aware of the issues, yet little AT THE EXPENSE seems to change. Why is this? The concept of the imperial mode of living explains why, in spite of increasing injustices, no long-term alternatives have managed to succeed and a socio-ecological transformation remains out of sight. This text introduces the concept of an imperial mode of living and explains how our OF OTHERS? current mode of production and living is putting both people and the natural world under strain. We shine a spotlight on various areas of our daily lives, including food, mobility and digitalisation. We also look at socio-ecological alternatives and approaches How the imperial mode of living to establish a good life for everyone – not just a few. prevents a good life for all The non-pro t association Common Future e.V. from Göttingen is active in a number of projects focussing on global justice and socio-ecological business approaches. From April to May , the association organised the I.L.A. Werkstatt (Imperiale Lebensweisen – Ausbeutungsstrukturen im . Jahrhundert/ Imperial Modes of Living – Structures of Exploitation in the st Century). Out of this was borne the interdisciplinary I.L.A. Kollektiv, consisting of young – How the imperial mode of living prevents a good life for all for a good life the imperial mode of living prevents – How researchers and activists.
    [Show full text]
  • Clear Answers for Real Benefits
    Clear answers for real benefits. 2012 Reports and Accounts www.unicreditanduniversities.eu estimonials from the foundation’s fellows are woven throughout this year’s annual report to illustrate the tangible support UniCredit & T Universities is providing to the brightest young minds. These first-hand stories were collected by the foundation’s staff, who build a strong rapport with its fellows during and following their studies. The closeness of these relationships enables UniCredit & Universities to provide real solutions to the challenges its fellows face as they pursue their academic ambitions. Each story lends an authentic voice to the foundation’s commitment to supporting promising minds, advancing research and seizing the kind of opportunities that are only offered at the world’s best academic institutions. Moreover, the stories speak to the strong bond that unites UniCredit with the local communities it serves. Also featured in this report are images of special moments in the lives of the foundation’s fellows. These photographs illustrate the academic experiences of students and researchers who are pursuing their passions with intensity, discipline and commitment. Above all, UniCredit & Universities believes its primary objective is to meaningfully engage with those it comes into contact with every day. By so doing, the foundation can respond quickly, creatively and effectively to the evolving needs of its fellows. Inside you will find their success stories - the stories of young people who work hard to better themselves and the world in which they live. 2012 Reports and Accounts Governing Bodies (as at February, 27 2013) Board of Directors Dieter Rampl Chairman Anna Simioni Vice-Chairman Franco Bruni Members Giorgio Barba Navaretti Erik F.
    [Show full text]
  • Hans-Werner Sinn Und 25 Jahre Deutsche Wirtschaftspolitik
    SINN HANS-WERNER UND 25 JAHRE DEUTSCHE WIRTSCHAFTSPOLITIK HERAUSGEGEBEN VON GABRIEL FELBERMAYR | MEINHARD KNOCHE | LUDGER WÖßMANN HANS-WERNER SINN UND 25 JAHRE DEUTSCHE WIRTSCHAFTSPOLITIK HANS-WERNER SINN UND 25 JAHRE DEUTSCHE WIRTSCHAFTSPOLITIK Herausgegeben von Gabriel Felbermayr | Meinhard Knoche | Ludger Wößmann INHALT VORWORT 10 1 VOM LINKEN ZUM LIBERALEN : Hans-Werner Sinn und die deutsche Wirtschaftspolitik 15 LUDGER WÖSSMANN : Einleitung 16 HORST SEEHOFER : Soziale Marktwirtschaft – ein Erfolgsmodell für Bayern und Deutschland 18 WOLFGANG CLEMENT : Ein Mahner aus Prinzip 20 REINHARD KARDINAL MARX : Leitbild Chancengerechtigkeit 22 ULRICH GRILLO : Der Ökonomie-Erklärer – von A wie Arbeitsmarkt bis Z wie Zuwanderung 24 ROLAND BERGER : Hans-Werner Sinn: Volkswirt, Kommunikator, Manager 26 WOLFGANG FRANZ : Die Eiger-Nordwand und der Kombilohn: eine Reminiszenz 28 EDMUND PHELPS : Hans-Werner Sinn und Deutschlands natürliche Arbeitslosenrate 30 JAMES POTERBA : Rentenreform: Hans-Werners Forschung und politischer Einfluss 32 ASSAF RAZIN : Über den Jungen, den Politökonomen, den Unternehmer und den Freund 34 CARL CHRISTIAN VON WEIZSÄCKER : Hans-Werner Sinns Habilitationsschrift 36 ROLAND TICHY : Zwischen Sinn-Gap und Target-Falle gebofingert 38 KAI DIEKMANN : 25 Gründe, warum Hans-Werner Sinn als ifo-Präsident fehlen wird 41 2 KALTSTART : Hans-Werner Sinn und die Wiedervereinigung 47 MARCEL THUM : Einleitung 48 GEORG MILBRADT : Vereinigung ohne wirtschaftlichen Kompass 50 INHALT MARC BEISE : Der Trabi-Mann 52 4 MICHAEL C. BURDA : Die
    [Show full text]
  • General Meeting 2020 Agenda Deutsche Bank Agenda General Meeting 2020
    Deutsche Bank General Meeting 2020 Agenda Deutsche Bank Agenda General Meeting 2020 Contents 1. Presentation of the established Annual Financial Statements and Management Report for the 2019 financial year, the approved Consolidated Financial Statements and Management Report for the 2019 financial year as well as the Report of the Supervisory Board – 02 2. Ratification of the acts of management of the members of the Management Board for the 2019 financial year– 02 3. Ratification of the acts of management of the members of the Supervisory Board for the 2019 financial year– 02 4. Election of the auditor for the 2020 financial year, interim accounts– 02 5. Authorization to acquire own shares pursuant to § 71 (1) No. 8 Stock Corporation Act as well as for their use with the possible exclusion of pre-emptive rights – 03 6. Authorization to use derivatives within the framework of the purchase of own shares pursuant to § 71 (1) No. 8 Stock Corporation Act – 03 7. Elections to the Supervisory Board – 04 8. Amendment to the Articles of Association – 05 01 Deutsche Bank Agenda General Meeting 2020 Agenda We take pleasure in inviting our shareholders to the The actions of the following Supervisory Board members Ordinary General Meeting in office in the 2019 financial year shall be ratified: Dr Paul convened for Achleitner (Chairman of the Supervisory Board), Detlef Wednesday, May 20, 2020, at 10:00 a.m. Polaschek (Deputy Chairman of the Supervisory Board), as virtual general meeting without physical presence of Ludwig Blomeyer-Bartenstein, Frank Bsirske, Mayree Carroll shareholders or their representatives. Clark, Jan Duscheck, Dr Gerhard Eschelbeck, Katherine Garrett- Cox, Timo Heider, Martina Klee, Henriette Mark, Agenda Richard Meddings (member of the Supervisory Board until and including 31 July 2019), Gabriele Platscher, Bernd Rose, 1.
    [Show full text]
  • Media Release |
    Media release | Frankfurt am Main March 20, 2020 Supervisory Board recommends Dagmar Valcárcel, Sigmar Gabriel and Theodor Weimer to be elected at the Annual General Meeting The Supervisory Board of Deutsche Bank will submit a proposal to the Annual General Meeting on May 20, 2020 for three candidates to be elected to the Supervisory Board of Deutsche Bank. In addition to Dagmar Valcárcel (53) and Sigmar Gabriel (60), who were already appointed as members of the Supervisory Board by the court in August 2019 and March 2020 respectively, Theodor Weimer (60) will also stand for election by the shareholders. He is to be the successor to Katherine Garrett-Cox (52), who will resign from her mandate at the Annual General Meeting 2020. “We very much regret that Katherine Garett-Cox is leaving our Supervisory Board due to her other professional commitments and thank her sincerely for her contribution over the past nine years. My colleagues on the Supervisory Board and I wish her all the best for the future”, said Paul Achleitner, Chairman of the Supervisory Board of Deutsche Bank. “At the same time, I am delighted that we are able to propose to the Annual General Meeting that Dagmar Valcárcel, Sigmar Gabriel and Theodor Weimer – three strong and distinctive personalities – be elected to the Supervisory Board. In Theodor Weimer, who will join the Supervisory Board for the first time, we will gain an expert with deep knowledge of the German and European financial industry as well as an outstanding banker.” Dagmar Valcárcel has worked in the financial sector for 24 years in a variety of roles in a number of countries such as Germany, the UK, Spain, Greece, Switzerland and Luxembourg.
    [Show full text]
  • Fitschen Takes Over Presidency of the Association of German Banks
    Press-release Contact 12 April 2013 Person Fitschen takes over Dr. Kerstin Altendorf Bundesverband deutscher Banken presidency of the e.V. Director, Pressespre‐ Association of German cherin Tel. +49 30 Banks 1663-1250 [email protected] Jürgen Fitschen, Co-Chairman of the Management Board and the Group Executive Committee of Deutsche Bank AG, will take over the presidency of the Association of German Banks on 15 April 2013 from Andreas Schmitz, Chairman of the Management Board of HSBC Trinkaus und Burkhardt AG. Schmitz has held the ofce since 2009. Fitschen thanked Schmitz for his dedication and commitment during his term. “In turbulent times and an increasingly complex environment, Andreas Schmitz represented the interests of the industry very well as President and raised the public visibility of the association. In addition, he moved forward the reorientation of the Association of German Banks. The association is now in an excellent position; this is above all due to Andreas Schmitz.” The Board of Directors of the Association of German Banks elects the President from among its members for a period of three years. Andreas Schmitz has even held the presidency for four years because he laid importance on being closely involved in the association’s internal reorientation during the sovereign debt crisis. The Board of Directors of the Association of German Banks (from 15 April 2013) Jürgen Fitschen Co-Chairman of the Management Board and the Group Executive Committee, Deutsche Bank AG, Frankfurt am Main President Christian Olearius Press-releaseGeneral Partner – Spokesman, M.M.Warburg & CO KGaA, Hamburg Member of the Presidency Andreas Schmitz Chairman of the Management Board, HSBC Trinkaus & Burkhardt AG, Düsseldorf Member of the Presidency Markus Beumer Member of the Board of Managing Directors, Commerzbank AG, Frankfurt am Main Michael Kemmer General Manager, Association of German Banks, Berlin Thomas A.
    [Show full text]
  • Die Redner / Panel-Teilnehmer Reflexionen Deutschland-Dialog Der Privaten Banken | Berlin, 17
    DIE Redner / Panel-TEIlnehmer REFLEXIonen Deutschland-Dialog der privaten Banken | Berlin, 17. Oktober 2012 Dora BakoYannIS Andreas Botsch Abgeordnete des Griechischen Par- Europäisches Gewerkschaftsinstitut, KerstIN Andreae laments, ehemalige Außen ministerin Mitglied des Vorstandes, Finance Watch MdB, stv. Vorsitzende der Bundestags- Griechenlands fraktion, Bündnis 90 / Die Grünen Dora Bakoyannis, geboren 1954 in Andreas Botsch studierte Politik, Ökono- Athen, studierte Politikwissenschaft mie und Verwaltungswissenschaften in Kerstin Andreae MdB, geboren 1968 und Kommunikation an der Ludwig- Freiburg, Paris und Konstanz. Er arbei- in Schramberg, schloss ihr Studium Maximilians-Universität München tete von 1989 bis 1998 als Senior Policy der Politischen Wissenschaft und sowie Politikwissenschaft und Öffent- Advisor beim OECD Trade Union Adviso- der Volkswirtschaftslehre an der liches Recht an der Nationalen und ry Committee (TUAC) in Paris. Von 1998 Universität Freiburg 1996 als Diplom- Kapodistrias-Universität Athen. 1989 bis 2000 war er Botschaftsrat für Arbeit Volkswirtin ab. Danach arbeitete wurde sie erstmals in das griechische und Soziales bei der Ständigen Vertre- Andreae zunächst bei einer Agentur Parlament gewählt. Von 1991 bis 1992 tung der Bundesrepublik Deutschland für Gesundheits- und Kurtechnologie war Bakoyannis als Generalsekretärin bei der Europäischen Union in Brüssel in Hamm, ab 1998 als Pressereferen- für internationale Angelegenheiten und dort unter anderem verantwortlich tin und Wahlkampfkoordinatorin für ihrer Partei
    [Show full text]
  • General Atlantic Invests in Deutsche Börse Index and Portfolio Risk/Analytics Business; Combines DB’S Existing Index Provider with Axioma, Inc
    General Atlantic Invests in Deutsche Börse Index and Portfolio Risk/Analytics Business; Combines DB’s Existing Index Provider with Axioma, Inc. Deutsche Börse to acquire Axioma for US$850 million and combine it with its index businesses (STOXX and DAX) valued at €2.6 billion into a new company Strategic partnership with General Atlantic as a minority investor in the new company Highly complementary combination creates a uniquely positioned buy-side intelligence leader and growth company with expected synergy opportunities of around €30 million Entrepreneurial leadership team to be led by Axioma CEO Sebastian Ceria Frankfurt, New York, Zug - April 9, 2019 Deutsche Börse AG (Deutsche Börse) and Axioma, Inc. (Axioma) announced that Axioma has agreed to be acquired by Deutsche Börse for US$850 million cash and debt free (around US$820 million equity value) and will be combined with Deutsche Börse’s index businesses (STOXX® and DAX®) valued at €2.6 billion. The combination will create a fully integrated, leading buy-side intelligence player that will provide unique products and analytics to meet the growing demand for an end-to-end platform. Axioma, a global provider of cloud-based portfolio and risk management software solutions, and Deutsche Börse’s index business are highly complementary and together will offer a broad suite of index and analytics products with global coverage. As a result, the combined company is expected to materially grow revenue and EBITDA, and is expected to achieve annualized pre-tax run-rate synergies of around €30 million by the end of 2021. As part of the transaction, Deutsche Börse has entered into a strategic partnership with General Atlantic, a leading global growth equity investor.
    [Show full text]
  • Invitation and Agenda [PDF, 0.4
    INVITATION OF ANNUAL GENERAL MEETING 2020 INVITATION Knorr-Bremse Annual General Meeting 2020 Blind Text Subheadline 1 INVITATION OF ANNUAL GENERAL MEETING 2020 INVITATION OF ANNUAL GENERAL MEETING 2020 KNORR-BREMSE AG Munich German Securities Identification Number (Wertpapier-Kenn-Nummer, “WKN”): KBX100 Notice of Annual General Meeting 2020 of Knorr-Bremse AG on 30 June 2020 Dear Shareholders, We hereby invite you to the Annual General Meeting of Knorr- Bremse AG on Tuesday, 30 June 2020, at 10:00 a.m. (CEST), which will be held as a virtual Annual General Meeting without physical presence of either shareholders or their authorized representa- tives. The Annual General Meeting will be broadcasted live in video and audio on the internet for shareholders who registered in due time. The shareholders’ voting rights will be exercised exclusively by way of postal voting or by issuing powers of attorney to the compa- ny-nominated representatives. The place of the Annual General Meeting within the meaning of the German Stock Corporation Act (Aktiengesetz, “AktG”) is the registered office of the company, Moosacher Straße 80, 80809 München. I. AGENDA 1. Presentation of the adopted annual financial statements, the approved consolidated financial statements and the combined management report on Knorr-Bremse AG and the Knorr Bremse Group for the fiscal year 2019 as well as the report of the Supervisory Board for the fiscal year 2019 The aforementioned documents are available on our website at ir. knorr-bremse.com/agm and will also be explained in detail at the virtual Annual General Meeting. 2 3 INVITATION OF ANNUAL GENERAL MEETING 2020 INVITATION OF ANNUAL GENERAL MEETING 2020 The aforesaid documents include the remuneration report, the 3.
    [Show full text]