Baker McKenzie once again advised MDAX-listed Evonik Industries AG at its Annual General Meeting (AGM). This took place on June 4, 2024 as a virtual Annual General Meeting in accordance with Section 118a of the German Stock Corporation Act (AktG). The AGM was held at the administrative headquarters of Evonik Industries AG in Essen.
The agenda included the appropriation of the retained profit, the discharge of the members of the Management Board and the Supervisory Board, the appointment of the auditor, the approval of the 2023 remuneration report, the authorisation to buy back own shares and the confirmation of the remuneration and the remuneration system for the members of the Supervisory Board with amendments to the Articles of Association. The administration's proposed resolutions were adopted by a large majority.
" After supporting Evonik Industries in the successful introduction of the virtual Annual General Meeting last year, our client decided to hold its AGM virtually again this year due to the good experiences in 2023 . We are pleased that we were once again able to successfully support Evonik Industries at its Annual General Meeting," commented Dr. Katharina Stüber, Corporate/M&A Partner at Baker McKenzie. This is the 11th Annual General Meeting for Evonik Industries, all of which Katharina Stüber has supervised.
Evonik is a global leader in specialty chemicals. The Group is active in over 100 countries with more than 33,000 employees and generated sales of 15.3 billion euros and earnings (adjusted EBITDA) of 1.66 billion euros in 2023. In doing so, Evonik goes far beyond chemistry to create innovative, value-adding, and sustainable solutions for customers.
Baker McKenzie's Corporate/M&A team regularly advises on critical annual general meetings and structural measures as well as on national and international transactions. Most recently, Baker McKenzie advised Trane Technologies on the strategic investment in Trailer Dynamics, AURELIUS on the acquisition of Dayco Propulsion Solutions, EQT Life Sciences on a EUR 128 million Series B2 financing of Tubulis GmbH, Knorr-Bremse AG on the sale of a majority stake in Kiepe Electric GmbH, Transcom on the acquisition of timeframe, Sika AG on the acquisition of the MBCC Group from Lone Star and the sale of MBCC's concrete admixtures business to Cinven, Senwes Ltd. on the acquisition of four agricultural machinery dealers in the new federal states, AURELIUS on the acquisition of the LSG Group (LSG Sky Chefs) from Deutsche Lufthansa AG, Nokian Tyres plc on the sale of its Russian business to Tatneft PJSC, First Solar on the sale of its global O&M business to NovaSource, Fluidra on the acquisition of the Meranus Group and Magna on the acquisition of the Veoneer Active Safety Division.
Legal advisor to Evonik Industries AG: Baker McKenzie
Lead: Corporate/M&A: Dr. Katharina Stüber (Partner, Frankfurt)
Team: Corporate/M&A: Dr. Christian Vocke (Partner, Frankfurt), Dr. Julia Rossié (Senior Associate, München)