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Domination and Profit and Loss Transfer Agreement with Truck & Bus GmbH Entered in the Commercial Register - The domination and profit and loss transfer agreement (DPLA) between Truck & Bus GmbH, a wholly-owned subsidiary of Volkswagen AG based in Wolfsburg, and MAN SE, Munich, was entered in the MAN SE commercial register on July 16 and has now become effective
Domination and Profit and Loss Transfer Agreement with Truck & Bus GmbH Entered in the Commercial Register

 

PRZOOM - /newswire/ - Copenhagen, Denmark, 2013/07/17 - The domination and profit and loss transfer agreement (DPLA) between Truck & Bus GmbH, a wholly-owned subsidiary of Volkswagen AG based in Wolfsburg, and MAN SE, Munich, was entered in the MAN SE commercial register on July 16 and has now become effective.

   
 
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MAN SE shareholders approved the agreement by a large majority at this year's Annual General Meeting held on June 6, 2013.

Until now, MAN SE has maintained a so-called de facto group relationship with Volkswagen. As a result, cooperation within the Volkswagen Group has entailed numerous legal and operational hurdles. Such difficulties no longer exist in a contractual group, as created following conclusion of the DPLA. This paves the way for much more efficient and less bureaucratic cooperation throughout the Volkswagen Group.

Under the DPLA, Truck & Bus GmbH (ManDieselTurbo.com) is obliged to optionally pay outside shareholders a cash buyout amount of €80.89 per ordinary or preference share, or a guaranteed net annual dividend or annual compensation amounting to €3.07 per ordinary or preference share for the full fiscal year. The two-month timeframe for exercising the share put option begins following official announcement of the agreement's entry in the commercial register by Munich Local Court. Additional information will be published shortly in the Federal Gazette and on the handelsregisterbekanntmachungen.de website. Shareholders can also obtain further details from their bank.

 
 
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Agency / Source: MAN Group

 
 

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Domination and Profit and Loss Transfer Agreement with Truck & Bus GmbH Entered in the Commercial Register

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MAN Truck & Bus |
Contact: Press Office - ManDieselTurbo.com 
+49 89 36098-111 presse[.]man.eu
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any MAN Group securities in any jurisdiction including any other companies listed or named in this release.

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