Significant events

Annual General Meeting approves proposed resolutions by a large majority

We reported on this year’s Annual General Meeting, which was held on 21 April 2009, and the key resolutions passed there on page 23 of the  Interim Report for the period from January to March 2009.

Transaction for the sale of Postbank shares completed

Early in July 2009, Deutsche Post DHL took a key step towards becoming a pure-play mail and logistics group by selling its remaining shares in Deutsche Bank AG on the market, as planned. The Group generated around €100 million more than anticipated from the sale of the 50 million Deutsche Bank shares that Deutsche Post had received as part of the sale of its interest in Deutsche Postbank in March. So far, Deutsche Post has received around €5 billion from the sale of its interest in Postbank. Deutsche Post DHL now no longer holds any shares in Deutsche Bank.

The transaction for the sale of Postbank shares to Deutsche Bank agreed in January was completed on 25 February 2009 as planned. Deutsche Bank received a 22.9% interest in Postbank from Deutsche Post DHL in return for 50 million Deutsche Bank shares from a capital increase. An additional interest of 27.4% will be transferred to Deutsche Bank after three years when a mandatory exchangeable bond on Postbank shares becomes due.

The first tranche affected earnings by €564 million in the first six months of 2009; this amount is contained in the profit from discontinued operations and in net financial income.

In a third tranche, Deutsche Post DHL and Deutsche Bank agreed on options for the sale/purchase of a further 12.1% of Postbank’s shares. These options cannot be exercised until February 2012 at the earliest. Net financial income includes income of €771 million, which reflects the performance of the options on the market.