GLG News by Securities, Corporate Governance, and M&A Experts: Lawyers (EU, Africa)

Peter DehnenPresidentGerman American Business Forum

Federal Tax Court on the taxation of compensation payments

August 15, 2007

Analysis of:Bundesfinanzhof: Zur Abfindungszahlung für den Verzicht auf einen zugesagten Arbeitsplatz | www.iww.de

This analysis provides an inside view on new aspects of the German tax law that might be of interest even for taxpayers not resident in Germany. The taxation of compensation payments for example again was the subject of a case decided by the Federal Tax Court.

Peter DehnenPresidentGerman American Business Forum

Siemens names new CEO – and still faces great challenges

August 13, 2007

Analysis of:Siemens AG Sunday named Merck & Co. Inc.'s Peter Löscher as its new president and CEO in an effort to break with recent scandals that have plagued the company. | www.central-it.de

As the company struggles to improve an image tarnished by corruption the supervisory board of the German engineering conglomerate Siemens AG announced on May 20 already that it has tapped Peter Loescher as its new CEO. The announcement ended weeks of uncertainty over who would take over leadership of the company amid investigations in Europe and the United States into allegations that employees set up secret funds to pay off union leaders and bribe officials to win contracts.

Peter DehnenPresidentGerman American Business Forum

Business tax reform: German Bundestag passes bill

August 8, 2007

Analysis of:Business tax reform 2008: Making Germany attractive for business | www.bundeskanzlerin.de

The German government has been discussing necessary measures for a business tax reform for months. In February 2007 a draft was published summarizing the planned amendments. A lively discussion regarding the proposed changes ended in an amended draft which passed the Bundestag (Lower House of Parliament) on May 25, 2007. This analysis gives a summary of the most important measures of this bill which will become effective on January 1, 2008.

Peter DehnenPresidentGerman American Business Forum

Porsche bids for Volkswagen but has no intentions

August 7, 2007

Analysis of:Porsche's public takeover bid for VW fails | auto.blogiezt.com

Porsche made an offer to buy the shares which it does not already own in Volkswagen AG at a price lower than the current stock exchange rate. This offer has not been successful – and Porsche is pleased with this result. This analysis shows, why that is.

Peter DehnenPresidentGerman American Business Forum

Regulation on hedge funds in Germany

July 11, 2007

Analysis of:Hedge funds to meet G7 on openness | www.ft.com

Plans to regulate hedge funds are on their way in Germany. This analysis focuses on the regulatory corner points actually discussed and their impact on the investors. The Federal Ministry of Finance (BMF) is planning a law for the delimitation of financial market risks which is to come into force parallel with the company tax reform on January 1, 2008. The Ministry is about to initiate a risk capital law and due to it a “risk delimitation law” in order to limit erroneous trends at the markets.

Peter DehnenPresidentGerman American Business Forum

Siemens’ past, presence and future

June 28, 2007

Analysis of:Siemens Boss To Step Down | www.forbes.com

A CEO presents great financial figures – and has to step down. Unthinkable? Well, not really as you will find out while reading this analysis. Siemens, one of Europe’s largest engineering companies, has been hit by a series of corruption scandals in recent months revolving around the payment by some employees of bribes to help secure deals abroad. Now the corruption scandal has led to the resignation of the chairman of the supervisory board, Heinrich von Pierer. Pressure had been rising onvon Pierer for weeks because he was Siemens’ chief executive from 1992 to 2005, the years that a system of slush funds was established. The money, as much as 420 million euros, was allegedly used for bribes. He stepped down at the board meeting on April 25, saying he hoped his successor would be able to steer the scandal-plagued company “out of the headlines and into calmer waters”. Von Pierer is replaced by Gerhard Cromme, a board member and former head of heavy-industry giant ThyssenKrupp.

Peter DehnenPresidentGerman American Business Forum

Pinault unlikely to enhance takeover offer for Puma

June 26, 2007

Analysis of:PPR pressed to sweeten its offer | www.iht.com

Now it’s official. The buyout bid is on the table and the shareholders are not pleased at all. But why is that? This analysis provides full background information and shows why there is no indication that the offer will be changed. Luxury goods retailer PPR, previously known as Pinault-Printemps-Redoute, has officially tabled a friendly voluntary takeover offer to the outside shareholders of Puma. Sapardis, a subsidiary of PPR, officially published the offer document on May 14 after it received regulatory approval form the German Financial Supervisory Authority BaFin on May 10.

Peter DehnenPresidentGerman American Business Forum

Porsche’s bid for Volkswagen

June 19, 2007

Analysis of:Porsche launches takeover bid for VW | www.euronews.net

This analysis presents in greater detail the facts behind the move by Porsche and explains why Porsche is not planning to completely take over VW for the time being. Germany’s financial regulators have approved a takeover offer for Volkswagen AG made by automaker Porsche AG, which it was forced to make after acquiring more than 30 % of Volkswagen. Porsche had increased its share in Volkswagen from 27.3 o 30.9 percent a few weeks ago for tactical reasons and by exceeding the 30% threshold was forced to submit the legally prescribed takeover offer. Porsche only submitted the lowest possible bid because it does not want to buy more shares in Volkswagen at the moment but is then free to buy more shares in the future without having to present a renewed takeover offer.

Peter DehnenPresidentGerman American Business Forum

Germany’s taxation of the Limited

October 26, 2006

Analysis of:Germany’s Love of the Limited | www.ft.com

Experiences with the use of the British limited company form in Germany have shown that in addition to the advantages of the Limited there are also many formalities which must be observed when using the foreign legal form in Germany, particular in regard to taxation.

Peter DehnenPresidentGerman American Business Forum

“Golden shares” and the German “VW law”

October 26, 2006

Analysis of:EU court acts to end barrier to takeovers | www.iht.com

1. The only exemption to the rule of one share = one vote in Germany is the so-called “VW law”.
2. Whether the “VW law” can be regarded as a takeover barrier or not has to be decided by the EU court as well.

Previous Page : 12345Next21 to 30 of 41