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In March 2016, the Council of the City of Cologne, the
company bodies at Koelnmesse and the shareholders
of real estate company Köln Messe 15–18 GbR
approved of the settlement agreed among the
contracting parties in connection with the legal
dispute involving the Northern Halls site. The
settlement provides for a permanent reduction in
annual rental payments for the Northern Halls.
At the same time, the Coucil approved of the
commitment, particularly to Sparkasse Köln/Bonn,
including for the period after termination of the lease,
after 2035, to come to an agreement that ensures use
of the Northern Halls by Koelnmesse and its events.
At the time, when the agreement was concluded,
Sparkasse Köln/Bonn had made a guarantee over
which there are now differing views.
The decisions by the Council play a major role in
securing the future of Cologne as a trade fair and
business location.
The settlement between the parties to the contract,
and the decisions by the parties’ decision-making
bodies, are subject to the proviso that the EU grants
its consent from a state-aid and public-procurement
standpoint. As long as this agreement is not forth-
coming, it cannot be assumed that positive earnings
effects will emerge from these decisions.
Other than this, we have not received any information
subsequent to the reporting date that would have
resulted in a different statement of the company’s
situation with regard to mandatory reporting in
accordance with §289 par. 1 of the German Commer-
cial Code (HGB).
III. Processes of special importance after the close of the fiscal year