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Corporate Governance – portrayed in the individual cultural and legal framework, from the standpoint of equity capital.

VIPsight is a dynamic photo archive, sorted by nations and dates, by and for those interested in CG from all over the world.

VIPsight offers, every month:
transparent and independent current information / comments / facts and figures on corporate governance locally and internationally,

  • written by local CG experts,
  • selected and structured by the Club of Florence,
  • financed by its initiator VIP and other sponsors with a background of “Equity and Advisory” interests.

VIPsight International

Article Index


Capital News

When presenting its final quarterly figures on 3 November, Deutsche Börse announced it would carry out a share buyback programme with a value of around €100 million. The shares are to be repurchased by the end of this year or by the completion of the merger of the Frankfurt market operator and NYSE EuroNext. “We have great confidence in our future earning power and against this background have opted for a share buyback,” said CFO Gregor Pottmeyer.

GAGFAH was offered 20,480,521 shares in a share buyback offer from early September. Of the offered shares, however, the troubled property group actually bought back only 15,150,564, and now holds 8.37 percent of the capital. GAGFAH had set the price for the announced buyback at €4.95 per share. 2,407,413 shares were offered at a higher price, but the total purchase price for the remaining 18,073,108 shares, €89,461,884.60, exceeded the maximum redemption value of €75 million. The residential real-estate company, dominated by Fortress, had given emphasis to their buyback offer by arguing that they were seeking a withdrawal from the market.