{
  "url": "https://openlegislation.uk/eu-decision-2015-657/annex-I/division-E/division-29",
  "json_url": "https://openlegislation.uk/eu-decision-2015-657/annex-I/division-E/division-29.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/E/division/29",
  "kind": "division",
  "number": "29",
  "heading": "[Conversion of silent participations and acquisition of LBS Bayern] The Bavarian savings banks are prepared to share the burden of restructuring BayernLB to the tune of EUR 1,65 billion by acquiring LBS and converting their silent participations (stille Einlagen).",
  "text": "The sum is made up as follows:\n(a) Acquisition of LBS The Bavarian savings banks association will acquire LBS in full for a price of EUR 818,3 million. The date of the purchase (transfer of ownership and payment of the purchase price) will be […]. BayernLB is entitled to the proceeds (Ertrag) for the 2012 business year.\n(b) Conversion of silent participations All silent participations of unlimited duration held by the savings banks in BayernLB will be repaid at the nominal value of around EUR [770-810] million. At the same time the Bavarian savings banks association will inject capital of EUR [810-840] million into BayernLB Holding AG. The repayment of the silent participations and the capital increase will take place no earlier than […] and no later than […]. The new shares of the savings banks association will be determined on the basis of the business valuation of BayernLB Holding AG calculated in accordance with valuation standard IDW S1 at the time of the capital increase. The stake held by the savings banks association will in any event be restricted to a maximum of 25 % and thus will continue to remain below the blocking minority, which is 25 % + one vote.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Alternatively the silent participations may be converted into shares, instead of being first repaid and then reinjected."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2015/657/annex/I/division/E/division/29",
    "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."
}