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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

Conergy will be able to implement its plans for a refinancing. At an extraordinary general meeting on 25 February in Hamburg, 99.5 percent of shareholders voted in each case for substantial debt relief measures, said the troubled Hamburg photovoltaic company. These will see a capital writedown in an eight to one ratio and a subsequent capital increase. The capital stock will first be reduced from €398,088,928 to €49,761,116. Through the capital increase, Conergy wants to take in €188m, in order to cut debt to €135 million and so reduce the interest burden considerably.

IVG Immobilien has increased its share capital by issuing up to 12,599,999 new shares. They were placed with investors through an accelerated procedure in. The Bonn real estate group announced this on 11 February after market close. The package was worth € 87m. The MDAX-listed company will use about two-thirds of the proceeds for the restructuring and the associated extension of bank loans. With the remaining money, the Squaire Parking project at Frankfurt Airport is to be further boosted.

Rupert Murdoch is supporting Sky Deutschland’s investment in programme expansion. News Corporation is to commit to a shareholder loan of around 48 million euros to the pay-TV channel for the development of sports programmes,. The loan is secondary to the existing lines of credit and will run until 31 March 2014. The annual interest rate is twelve percent; the interest is due only at the end of the term. The new high-definition channel called "Sky Sports News HD" is to go on the air in Austria and Germany by winter and then be broadcast live around the clock.