(46) Events after the balance sheet date
In order to strengthen its market position among medics, MLP purchased all company shares in ZSH Vermittlung von Versicherungen und Vermögensanlagen Verwaltungs GmbH, Heidelberg, and all limited partner’s shares in ZSH Vermittlung von Versicherungen und Vermögensanlagen GmbH & Co KG, Heidelberg (“ZSH GmbH & Co KG”) on February 4, 2009.
The object of ZSH GmbH & Co KG is the administration and brokerage of all types of insurance policies and investments, real estate and loans as well as the provision of other services economically related to the aforementioned objects.
MLP will pay the purchase price of approximately € 11.3 million from cash holdings. Added to this is a variable purchase price component, which is based on the economic success of ZSH up to March 31, 2009, and which amounts to around € 0.6 million. LP is expanding the Executive Board of the holding company through the appointment of a Chief Operating Officer (COO), with effect from March 1, 2009. In this connection, the Supervisory Board has appointed Ralf Schmid as the new Executive Board member up to December 31, 2012.
MLP is expanding the Executive Board of the holding company through the appointment of a Chief Operating Officer (COO), with effect from March 1, 2009. In this connection, the Supervisory Board has appointed Ralf Schmid as the new Executive Board member up to December 31, 2012.
Within the scope of its strategic focus, MLP will in future concentrate on its core market of Germany in the area of consumer business. For this purpose, MLP is looking for new owners to take over its operating units in the Netherlands.
Apart from those described here, there were no other appreciable events after the balance sheet date with effects on the company’s financial or results of operations.