DGAP-Adhoc: WestLB AG: Restructuring Plan Submitted to the European Commission within the Agreed Timeframe

WestLB AG  / Key word(s): Restructure of Company

16.02.2011 10:49

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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The German federal government submitted the revised restructuring plan
approved by the WestLB Supervisory Board to the European Commission   on
February 15, 2011 within the agreed timeframe. The submitted plan was based
on discussions with the European Commission in which the Managing Board of
WestLB - in close consultation with the steering committee - outlined the
structure of the new core bank to the Brussels authority. The Bank
considers that the revised restructuring plan will meet with the approval
of the European Commission.

Under the restructuring plan, WestLB will further reduce its total assets
and risk-weighted assets by 2015. This means that, compared with the
figures stipulated in the original state aid decision, WestLB will reduce
its total assets and its risk-weighted assets further by approximately one
third.

In order to improve the framework regarding future partnership options in a
potential company transaction, the Bank is proposing the separation of four
legally dependent but organisationally autonomous operating units
('Teilbetriebe') under the umbrella of WestLB. These are: Verbund &
Corporates, Specialised Finance, Transaction Bank and Group & Service
Functions. Individual units can be incorporated into mergers or sold at a
later stage in the context of partner options.

The further downsizing of the Bank proposed in the revised restructuring
plan involves financial burdens that must be borne by the owners, the State
of North Rhine-Westphalia and the German federal government, but takes
account of the requirements laid down by the Commission.


16.02.2011 DGAP's Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases. 
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      WestLB AG
              Herzogstraße 15
              40217 Düsseldorf
              Deutschland
Phone:        +49-(0)211-826-01
Fax:          +49-(0)211-826-6119
E-mail:       ir@westlb.de
Internet:     www.westlb.de
ISIN:         DE0006899420, DE0006899412, DE0007120271, DE0007642837,
DE0008121096, DE0008174483, DE0008364001, DE0008364902, DE000A0D2FH1,
XS0216711340 
WKN:          689942
Listed:       Regulierter Markt in Düsseldorf, Frankfurt (General
              Standard); Freiverkehr in Berlin, Hamburg, Stuttgart;
              Luxembourg
 
End of Announcement                             DGAP News-Service
 
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