{
  "url": "https://openlegislation.uk/eu-decision-2015-657/annex-I/division-C/division-11",
  "json_url": "https://openlegislation.uk/eu-decision-2015-657/annex-I/division-C/division-11.json",
  "legislation": "eudn/2015/657",
  "legislation_title": "Commission Decision (EU) 2015/657 of 5 February 2013 on State aid granted by Germany and Austria to Bayerische Landesbank (Case SA.28487 (C 16/09, ex N 254/09)) (notified under document C(2013) 507) (Only the German text is authentic) (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2015-657",
  "path": "annex/I/division/C/division/11",
  "kind": "division",
  "number": "11",
  "heading": "[Sales of holdings] BayernLB will sell the holdings listed below and in Annex III on the best terms obtainable and in their entirety by the dates specified (date of signing), or has already sold the holding on the date shown.",
  "text": "Situation at 31 December 2011.\nIn preparation for its sale of Banque LB Lux SA, BayernLB has acquired Helaba's 25% stake in Banque LB Lux SA, and has sold its holding in LB(Swiss) Privatbank AG to Helaba, which already holds the other 50% in LB(Swiss) Privatbank AG. The sales agreement to this effect was signed on 23 October 2009; the transaction closed on 21 December 2009.\nClosed on 27 March 2012.\nNot consolidated.\nThe purchaser of this holding may be obliged to observe and maintain the social guidelines applicable in the GBW group and additional social requirements laid down in comparable transactions.\nAs required by the European Commission, the shares in GBW AG will be sold under a tender procedure based on competition principles. The German Federal Government takes note of the fact that an acquisition by the Land of Bavaria under a tender procedure could lead to an investigation of further State aid.\nBook value in December 2011.\nOn 22 June 2010 BayernLB sold a 25,2% share of SaarLB's share capital to the Land of Saarland, with the result that SaarLB no longer constitutes a BayernLB affiliate under Section 271(2) of the Commercial Code. […].\nIncluding shares held via KGAL Verwaltungs-GmbH.\nNot a holding in the technical sense.\nName\nPlace\nShareholding (%)\nBalance sheet/RWA\nTarget date\nBanque LB Lux SA\nLuxembourg\n100\n6 441,3/[…]\n[…]\nDKB Immobilien AG\nBerlin\n100\n2012\nKGE Kommunalgrund\nMunich\n100\n[…]\nStadtwerke Cottbus GmbH\nCottbus\n74,9\n[…]\n[…]\n[…]\n[…]\n[…]\nGBW AG\nMunich\n91,93\n[…]\nLandesbank Saar\nSaarbrücken\n75\n[…]\n2010\nLB(Swiss) Privatbank AG\nZürich\n50\n2009\nMKB Bank Zrt (group)\nBudapest\n89,89\n9 360,9/[…]\n[…]\nDekaBank\nFrankfurt am Main\n3,09\n2011\nDeutsche Lufthansa AG\nCologne\n1,98\n2013\nKGAL GmbH & Co. KG\nGrünwald\n30\n[…]\nLBS Bayern\nMunich\n100\n[…]/[…]\n2012",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Situation at 31 December 2011."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "In preparation for its sale of Banque LB Lux SA, BayernLB has acquired Helaba's 25% stake in Banque LB Lux SA, and has sold its holding in LB(Swiss) Privatbank AG to Helaba, which already holds the other 50% in LB(Swiss) Privatbank AG. The sales agreement to this effect was signed on 23 October 2009; the transaction closed on 21 December 2009."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Closed on 27 March 2012."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Not consolidated."
    },
    {
      "type": "footnote",
      "label": "f5",
      "text": "The purchaser of this holding may be obliged to observe and maintain the social guidelines applicable in the GBW group and additional social requirements laid down in comparable transactions."
    },
    {
      "type": "footnote",
      "label": "f6",
      "text": "As required by the European Commission, the shares in GBW AG will be sold under a tender procedure based on competition principles. The German Federal Government takes note of the fact that an acquisition by the Land of Bavaria under a tender procedure could lead to an investigation of further State aid."
    },
    {
      "type": "footnote",
      "label": "f7",
      "text": "Book value in December 2011."
    },
    {
      "type": "footnote",
      "label": "f8",
      "text": "On 22 June 2010 BayernLB sold a 25,2% share of SaarLB's share capital to the Land of Saarland, with the result that SaarLB no longer constitutes a BayernLB affiliate under Section 271(2) of the Commercial Code. […]."
    },
    {
      "type": "footnote",
      "label": "f9",
      "text": "Including shares held via KGAL Verwaltungs-GmbH."
    },
    {
      "type": "footnote",
      "label": "f10",
      "text": "Not a holding in the technical sense."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2015/657/annex/I/division/C/division/11",
    "retrieved_at": "2026-11-01T15:14:23.174263+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}