Ad Hoc Announcement
Baader Bank is no longer pursuing the sale of the Selan Group and is retrospectively consolidating the investment on 01/01/2017
Unterschleißheim, Germany, 29/06/2017: Today, the Management Board of Baader Bank AG has decided to no longer pursue the sale of the investment in the Selan Holding GmbH for business reasons. Baader Bank AG holds 100% of the units in Selan Holding GmbH, whose wholly-owned subsidiary Selan d.o.o. operates a wind park in Croatia. The withdrawal of Baader Bank AG’s intention to make a purchase has resulted in a retrospective consolidation requirement for Selan Holding GmbH, Unterschleißheim, Germany, and the Selan d.o.o., Senj, Croatia, as at 01/01/2017.
As a result of the consolidation, Baader Bank AG expects there to be a significant impact at a Group level on individual positions of the consolidated financial statements for the current financial year. In particular, Baader Bank AG expects the Group to see an increase in the income from ordinary business activities, with a simultaneous increase from other operating income, the administrative costs and interest expenses, as well as an expansion of assets and the total assets at Group level. A direct impact on Baader Bank AG’s individual financial statements for the current financial year is not expected.
For additional information, please contact:
Baader Bank AG
Weihenstephaner Straße 4
85716 Unterschleißheim, Germany
Katharina Ariane Beyersdorfer
Senior Manager Group Management & Communication
Tel.: +49 (1016) 89 5150 0
F +49 89 5150 291016
M +49 172 6659 389
About Baader Bank AG:
Baader Bank AG is one of the leading investment banks across the German-speaking region. As a family-run, full-service bank headquartered in Unterschleissheim near Munich with 450 employees, it is active in the business segments of Market Making, Capital Markets, Multi Asset Brokerage, Asset Management Services, Banking Services and Research.