Branicks - comment
Any future transactions between VIB and Branicks will already be under heavy scrutiny, so the cumulative impact of the latest Special Auditor request is small. The VIB Supervisory Board has not yet responded, but VIB is likely to reject the criticisms as it did with those of Mann Asset Management (as we mentioned yesterday). However, the additional request for a potential VIB special auditor will put more pressure on the Supervisory Board.
The latest request targets real estate transactions between VIB and Branicks (and external sales by VIB) and questions the independence of the VIB management board (and CBRE as valuer). The same shareholder also wants new bank loans at VIB and the loan from VIB to Branicks to be investigated.