EANS-News: Clarification Statement of B&C Privatstiftung and B&C
Industrieholding GmbH (B&C) with respect to UniCredit Group
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Justice/Processes/Company Information/Contracts
Vienna - 1. In a transaction dated 2008, B&C repurchased all profit
participation rights (Genussrechte) to B&C's industrial shareholdings from
UniCredit Group (UniCredit). B&C paid a total purchase price of approx. EUR1.2
billion to UniCredit.
2. As part from this transaction, UniCredit formally waived its position as
beneficiary (Begünstigte) of B&C Privatstiftung and assigned any remaining and
any future benefits and rights, if any, to B&C.
3. The purpose of this transaction included B&C Privatstiftung's definitive
legal and commercial separation from UniCredit to allow B&C Privatstiftung's
unhindered pursuit of its foundation purpose, in particular, to support Austrian
entrepreneurship.
4. It came to our attention that UniCredit contemplates pursuing transactions
with the objective of monetizing its purported position as beneficiary
(Begünstigte) of B&C Privatstiftung, despite its formal waiver in 2008, and to
sell its position as beneficiary upon dissolution (Letztbegünstigte).
5. In B&C Privatstiftung's and B&C's opinion, the pursuit of such transactions
would:
a) constitute a breach of law and contract by UniCredit, likely also by any
party deciding to enter into such transactions with UniCredit while being aware
of the given circumstances; and
b) not lead to a transfer of the waived position as beneficiary (Begünstigte) or
the position as beneficiary upon dissolution (Letztbegünstigte).
6. B&C Privatstiftung and B&C will vigorously defend their rights against
UniCredit and any third party attempting to participate in any such
transactions.
Further inquiry note:
Jürgen Gangoly, Jörg Wollmann, The Skills Group GmbH
Phone: +43 1 5052625-0
Email: bc@skills.at
Dr. Peter Winkler, Attorney-at-law, Eisenberger & Herzog Rechtsanwalts GmbH
Phone: +43 160636470
Email: p.winkler@ehlaw.at
end of announcement euro adhoc
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issuer: B&C Industrieholding GmbH
Universitätsring 14
A-1010 Wien
phone: +43 (0) 1 531 01 - 0
FAX: +43 (0) 1 531 01 - 102
mail: office@bcholding.at
WWW: https://www.bcholding.at/
ISIN: -
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language: English