On 23 March, Deutsche Brse AG ratified plans to implement a holding structure for the Clearstream Subgroup with the objective to further enhance the Group’s strong credit profile. The plan foresees the transfer of 51% of Deutsche Brse’s shares in Clearstream International S.A. to Deutsche Brse Dienstleistungs AG at book value. Deutsche Brse Dienstleistungs AG, established in June 2007, is a 100% subsidiary of Deutsche Brse AG. A profit and loss transfer agreement exists between the two entities. Implementation of the plan is envisaged within 2009.
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