1. Introductory Text

  2. Article 1.The restructuring aid provided to Sparkasse KölnBonn by its public...

  3. Article 2.This Decision is addressed to the Federal Republic of Germany....

  4. Signature

    1. ANNEX

      1. European Commission — Financial Crisis Taskforce DG Competition Rue Joseph...

      2. Case C 32/09 — Sparkasse KölnBonn

        1. COMMITMENTS TOWARDS THE EUROPEAN COMMISSION

      3. ANNEX I

        1. Section A — Commitments

          1. 1. Corporate governance: The Federal Government and Sparkasse KölnBonn undertake that...

          2. 2. Proprietary trading: Sparkasse KölnBonn is to cease trading for its...

          3. 3. Lending to the economy: Through its lending and investment activities,...

          4. 4. Reduction of large and cash credit exposures

          5. 5. Price leadership ban: Until 31 December 2014 Sparkasse KölnBonn is...

          6. 6. As soon as Sparkasse KölnBonn becomes aware that it is...

          7. 7. Dividend and coupon ban: Germany undertakes, with regard to coupon...

          8. 8. Acquisition ban: Upon the Decision coming into effect, Sparkasse KölnBonn...

          9. 9. No reference to state support in advertising: Sparkasse KölnBonn is...

        2. Section B — The business to be divested

          1. 10. Sparkasse KölnBonn is to sell the following participations (referred to...

          2. 11. In order to avoid undue distortions of competition, Sparkasse KölnBonn...

          3. 12. The commitment to divest will be considered fulfilled if Sparkasse...

          4. 13. Sparkasse KölnBonn is to sell the following participations by no...

          5. 14. The individual transactions with the city of Cologne are to...

          6. 15. An auditing company is to verify the valuation of the...

          7. 16. Before the transaction takes place, the monitoring trustee is to...

          8. 17. In order to maintain the structural effect of the commitments,...

          9. 18. In the future Sparkasse KölnBonn is to grant no more...

          10. 19. The profits from the sale of Sparkasse KölnBonn’s participations are...

        3. Section C — Divestment-related commitments

          1. Preservation of the viability, marketability and competitiveness of the business...

            1. 20. From the date on which the commitments become effective until...

          2. Hold-separate obligations of Sparkasse KölnBonn towards the business to be...

            1. 21. Sparkasse KölnBonn undertakes, from the date on which the commitments...

            2. 22. Until the transfer, Sparkasse KölnBonn is to assist the monitoring...

          3. Non-solicitation clause

            1. 23. Sparkasse KölnBonn undertakes, subject to the customary limitations, not to...

          4. Due diligence

            1. 24. In order to enable potential purchasers to carry out a...

        4. Section D — The purchaser

          1. 25. In order to ensure the immediate restoration of effective competition,...

          2. 26. As soon as Sparkasse KölnBonn reaches an agreement with a...

        5. Section E — Other commitments

          1. 27. Early partial repayment and partial conversion of the certificates of...

          2. 28. Germany undertakes that the conditions of the partial conversion and...

          3. 29. Reduction of the total assets:

          4. 30. The complete and correct implementation of all the conditions contained...

        6. …

        7. Duly authorised for and on behalf of

        8. [Indicate the name of the MS]

      4. ANNEX II

        APPOINTMENT AND DUTIES OF THE MONITORING TRUSTEE

        1. I. The Monitoring Trustee

          1. 1. The Federal Republic of Germany shall appoint a Monitoring Trustee....

          2. 2. The Monitoring Trustee shall be one or several natural or...

          3. 3. The Monitoring Trustee must be independent of Sparkasse KölnBonn and...

        2. II. Appointment of the Monitoring Trustee

          1. Proposal by the Federal Republic of Germany

            1. 4. No later than 4 weeks after the date of delivery...

          2. Approval or rejection by the Commission

            1. 5. The Commission shall have the discretion to approve or reject...

          3. New proposal by the Federal Republic of Germany

            1. 6. If all the proposed Monitoring Trustees are rejected, the Federal...

          4. Monitoring Trustee nominated by the Commission

            1. 7. If all further proposed Monitoring Trustees are also rejected by...

        3. III. The duties of the Monitoring Trustee

          1. 8. It is to be the duty of the Monitoring Trustee...

          2. Duties and obligations of the Monitoring Trustee

            1. 9. The Monitoring Trustee shall

            2. 10. The Commission can give the Monitoring Trustee instructions or directions...

            3. 11. For the duration of the mandate, the cities of Cologne...

            4. 12. The Federal Republic of Germany shall provide for all such...

      5. ANNEX III

        1. APPOINTMENT AND DUTIES OF THE DIVESTITURE TRUSTEE THE DIVESTITURE TRUSTEE

          1. I. The Divestiture Trustee

            1. 1. The Federal Republic of Germany shall appoint a Divestiture Trustee....

            2. 2. The Divestiture Trustee shall be one or several natural or...

            3. 3. The Divestiture Trustee must be independent of Sparkasse KölnBonn and...

          2. II. Appointment of the Divestiture Trustee

            1. Proposal by the Federal Republic of Germany

              1. 4. If Sparkasse KölnBonn has not entered into a binding sale...

            2. Approval or rejection by the Commission

              1. 5. The Commission shall have the discretion to approve or reject...

            3. New proposal by the Federal Republic of Germany

              1. 6. If all the proposed Divestiture Trustees are rejected, the Federal...

            4. Divestiture Trustee nominated by the Commission

              1. 7. If all further proposed Divestiture Trustees are also rejected by...

          3. III. The duties of the Divestiture Trustee

            1. 8. It shall be the duty of the Divestiture Trustee to...

            2. 9. The Divestiture Trustee shall

            3. 10. To prepare and carry out the divestiture, the Divestiture Trustee...

            4. 11. The Divestiture Trustee will be given all the necessary powers...

            5. 12. The powers of attorney in question shall be maintained until...

            6. 13. The Divestiture Trustee is authorised to commission further advisers to...

            7. 14. The Divestiture Trustee has to involve the European Commission in...

            8. 15. The Träger and Sparkasse KölnBonn shall undertake to support the...

            9. 16. Where considered necessary by the Sparkasse and the Träger for...

            10. 17. The Sparkasse shall undertake to exempt the Divestiture Trustee from...

            11. 18. The Divestiture Trustee shall be obliged to provide services always...

            12. 19. The Commission may give the Divestiture Trustee instructions or directions...

            13. 20. The cities of Cologne and Bonn and Sparkasse KölnBonn shall...