Ad hoc: DEPFA ACS BANK: Payment of Purchase Price.
02.09.11 12:31
abonnierenMeldung
DGAP-Ad hoc: DEPFA ACS BANK
Ad hoc announcement §15 WpHG
DEPFA ACS BANK / Keyword(s): Miscellaneous
DEPFA ACS BANK: Payment of Purchase Price Adjustment
Ad hoc announcement transmitted by DGAP - a company of EquityStory AG.
The
issuer is solely responsible for the content of this announcement.
------------------------------------
FRANKFURT STOCK EXCHANGE ANNOUNCEMENT
For immediate release on 2 September 2011
Ad Hoc Announcement
Payment of Purchase Price Adjustment
Dublin, 2 September 2011 - Reference is made to the Ad Hoc Announcement of
1 October 2010 relating to the transfer of assets to FMS Wertmanagement AöR
(FMS-WM) and to the press release of 18 July 2011 by the European
Commission approving the restructuring aid provided to Hypo Real Estate
Holding AG (HRE) and its subsidiaries (including the DEPFA BANK plc
sub-group) subject to the implementation of the restructuring plan and the
fulfilment of the commitments provided by Germany regarding HRE's
restructuring.
Within the framework of the transfer of assets to FMS-WM that took place on
1 October 2010 the German Financial Market Stabilisation Agency (FMSA)
reserved the right to stipulate a required payment (a purchase price
adjustment) of up to Euro 1.59 billion in order to avoid distortion of
competition. The FMSA has issued a declaratory decree that the full amount
is to be borne by the DEPFA BANK plc sub-group. The first instalment of the
purchase price adjustment becomes due and payable by the DEPFA BANK plc
sub-group today in the amount of Euro 800m. Accordingly the following bank
entities within the DEPFA BANK plc sub-group will pay to FMS-WM the Euro
amounts specified below:
DEPFA BANK plc 656,000,000
DEPFA ACS BANK 106,000,000
HYPO Pfandbrief Bank International S.A. 26,000,000
Hypo Public Finance Bank 12,000,000
The remaining amount will not arise unless and until the conditions for
payment are met. As specified in the 2010 Annual Report the conditions are
to ensure that payment would not cause the regulatory Tier 1 capital ratio
of any of the bank entities to fall below 15%. In addition payment of the
purchase price adjustment must not result, inter alia, in: any of the bank
entities or their parent becoming insolvent, illiquid or result in a
negative going concern assumption; or the violation of any relevant
regulatory capital ratios, major credit limits or other legal or regulatory
requirements.
Issued on behalf of the following companies and limited partnership in
respect of their listed debt:
DEPFA BANK plc
DEPFA ACS BANK
DEPFA Funding III LP
Contact:
Walter Allwicher at:
Tel.: +49 (0)89 2880 28787
mailto:walter.allwicher@hyporealestate.com
Oliver Gruss at:
Tel.: +49 (0)89 2880 28781
mailto:oliver.gruss@hyporealestate.com
02.09.2011 DGAPs Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------
Language: English
Company: DEPFA ACS BANK
1, Commons Street
Dublin 1 Dublin
Ireland
Phone: +353 1 792 2222
Fax: +353 1 792 2211
E-mail: info@depfa.com
Internet: www.depfa.com
ISIN: DE000A0BCLA9
WKN: A0BCLA
Listed: Regulierter Markt in Frankfurt (General Standard)
End of Announcement DGAP News-Service
---------------------------------
Ad hoc announcement §15 WpHG
DEPFA ACS BANK / Keyword(s): Miscellaneous
DEPFA ACS BANK: Payment of Purchase Price Adjustment
Ad hoc announcement transmitted by DGAP - a company of EquityStory AG.
issuer is solely responsible for the content of this announcement.
------------------------------------
FRANKFURT STOCK EXCHANGE ANNOUNCEMENT
For immediate release on 2 September 2011
Ad Hoc Announcement
Payment of Purchase Price Adjustment
Dublin, 2 September 2011 - Reference is made to the Ad Hoc Announcement of
1 October 2010 relating to the transfer of assets to FMS Wertmanagement AöR
(FMS-WM) and to the press release of 18 July 2011 by the European
Commission approving the restructuring aid provided to Hypo Real Estate
Holding AG (HRE) and its subsidiaries (including the DEPFA BANK plc
sub-group) subject to the implementation of the restructuring plan and the
fulfilment of the commitments provided by Germany regarding HRE's
restructuring.
Within the framework of the transfer of assets to FMS-WM that took place on
1 October 2010 the German Financial Market Stabilisation Agency (FMSA)
reserved the right to stipulate a required payment (a purchase price
adjustment) of up to Euro 1.59 billion in order to avoid distortion of
competition. The FMSA has issued a declaratory decree that the full amount
is to be borne by the DEPFA BANK plc sub-group. The first instalment of the
purchase price adjustment becomes due and payable by the DEPFA BANK plc
sub-group today in the amount of Euro 800m. Accordingly the following bank
entities within the DEPFA BANK plc sub-group will pay to FMS-WM the Euro
amounts specified below:
DEPFA BANK plc 656,000,000
DEPFA ACS BANK 106,000,000
HYPO Pfandbrief Bank International S.A. 26,000,000
Hypo Public Finance Bank 12,000,000
The remaining amount will not arise unless and until the conditions for
payment are met. As specified in the 2010 Annual Report the conditions are
to ensure that payment would not cause the regulatory Tier 1 capital ratio
of any of the bank entities to fall below 15%. In addition payment of the
purchase price adjustment must not result, inter alia, in: any of the bank
entities or their parent becoming insolvent, illiquid or result in a
negative going concern assumption; or the violation of any relevant
regulatory capital ratios, major credit limits or other legal or regulatory
requirements.
Issued on behalf of the following companies and limited partnership in
respect of their listed debt:
DEPFA BANK plc
DEPFA ACS BANK
DEPFA Funding III LP
Contact:
Walter Allwicher at:
Tel.: +49 (0)89 2880 28787
mailto:walter.allwicher@hyporealestate.com
Oliver Gruss at:
Tel.: +49 (0)89 2880 28781
mailto:oliver.gruss@hyporealestate.com
02.09.2011 DGAPs Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------
Language: English
Company: DEPFA ACS BANK
1, Commons Street
Dublin 1 Dublin
Ireland
Phone: +353 1 792 2222
Fax: +353 1 792 2211
E-mail: info@depfa.com
Internet: www.depfa.com
ISIN: DE000A0BCLA9
WKN: A0BCLA
Listed: Regulierter Markt in Frankfurt (General Standard)
End of Announcement DGAP News-Service
---------------------------------
Kurs- und weitere Informationen zum Thema:
DEPFA ACS BK 04/19 MTN
Aktuelle Diskussionen zum Thema:
Aktuelle Nachrichten zum Unternehmen:
Alle Nachrichten zum Unternehmen
Aktuelle Analysen zu den Unternehmen:
DEPFA ACS BK 04/19 MTN
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