Landeskr.Baden-Wur - Statement Re Proposed Merger
January 27 1998 - 5:35AM
UK Regulatory
RNS No 1468m
LANDESKREDITBANK BADEN-WURTTEMBERG
26th January 1998
NOTICE PURSUANT TO S15 SUBSECTION 1 OF THE GERMAN SECURITIES LAW
Publication and notice of an event which may result in substantial movement in
the price of securities within the meaning of S15 of the German Securities Law.
The Board of Directors of Landeskreditbank Baden-Wurttemberg hereby gives notice
that:
"The State of Baden-Wurttemberg, the Savings Bank and Giro Association of Baden,
the Savings Banks and Giro Association of Wurttemberg and the City of Stuttgart
have signed a joint statement in their capacity as obligors under their
respective maintenance and guarantee obligation (Anstalts-und Gewahrtrager) in
respect of Sudwestdeutsche Landesbank Girozentrale, Landeskreditbank
Baden-Wurttemberg and Landesgirokasse, offentliche Bank und Landessparkasse.
Thereby it is planned that effective 1 January 1999, Sudwestdeutsche Landesbank
Girozentrale, Landeskreditbank Baden-Wurttemberg and Landesgirokasse,
offentliche Bank und Landessparkasse will merge together to one universal bank
organized as a public law institution (rechtsfahlge Anstalt des offentlichen
Rechts) under the laws of the State of Baden-Wurttemberg. This will be named
Landesbank Baden-Wurttemberg and will have full freedom of establishment and
conducting full range of financial business.
Landeskreditbank Baden-Wurttemberg Forderungsanstalt, a legally dependent
institution (rechtlich unselbstandige Anstalt des offentlichen Rechts) also
organized under public law, will continue its promotion sector business in its
former legal status as part of the Landesbank Baden-Wurttemberg Group.
This joint statement which also requires an amendment in the legal framework of
the State of Baden-Wurttemberg is subject to the approval by the relevant forum
and governing bodies, in particular the State's parliament, the assemblies of
both of the Savings Banks Associations and the council of the City of Stuttgart.
END
MSCBLGBBXUDCCIL
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