DBAG with positive outlook for 2003

Deutsche Beteiligungs AG (DBAG) assesses the market development for management buyouts in Germany favorably. The wave of corporate restructuring in Germany is undiminished – the current source of most management buyouts. According to its estimation, the market for management buyouts involving mid-sized transaction volumes has remained stable, as opposed to trends in other segments. Opportunities to sell investments remain limited: the stock market is still not available as an exit channel, and strategic investors are exercising restraint in the momentary state of the market. Presently, the buyer side of the market almost exclusively consists of financial investors. DBAG started the new 2002/2003 financial year by posting positive first-quarter results. Following the profitable sale of DBAG’s investment in Edscha AG, consolidated net income totaled EUR 3.4m at 31 January 2003. In the preceding 2001/2002 financial year, the firm recorded a consolidated net loss for the first quarter; the complete financial year also closed with a loss.

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• DACH