Siemens 2013 Annual Report Download - page 154

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person or a group of per
tive control over Siemens A
influence over its activities (Ar
139 /
2004). In addition,
its disposal in the amount of €450 million whic
nated by the lender if ma
rate legal situation occur t
of the credit.
In March 2013, a consolidat
Siemens
AG as guarant
ments, each of which has been dr
US$500 million. Both ag
lender with a right of t
Siemens
AG becomes a subsidiar
person or a group of per
tive control over Siemens A
influence over its activities (Ar
139 / 2004).
Framework agreements concluded b
national Swaps and Der
tation (ISDA Agreements) g
termination upon the occur
the Company consolidat
least substantially all its as
sulting entity
’s creditw
Company
’s immediatel
ing entity fails to simult
gations under the ISD
ISDA Agreements grant t
upon a third party acquir
securities having the po
ny
’s Supervisory Boar
control the Company
’
the creditworthiness of t
it was immediately pr
ISDA Agreements are designed
outstanding payment claims document
be netted.
In February 2012 Siemens is
with a volume of US$3 billion. In case of a c
the terms and conditions
ers to receive a higher number of Siemens shar
dance with an adjusted s
rights within a certain per
trol. This period of time shall end eit
days and no more than 60
In our Combined Management Report,
we analyze our business activities
in the reporting year as well as the
current state of Siemens worldwide
and Siemens AG. Starting from a
description of our business, economic
environment and strategy, we present
our financial target system and a
detailed explanation of our profit, asset
and financial position. We also report
on various aspects of sustainability
at Siemens and on expected develop-
ments and their material opportunities
and risks.
WWW.SIEMENS.COM/AR/COMBINED- MANAGEMENT-REPORT
Additional Sustainability indicators are available at:
WWW.SIEMENS.COM/AR/SUSTAINABILITY-FIGURES