BVK welcomes Government’s Resolution on Private Equity Bill

Bundesverband Deutscher Kapitalbeteiligungsgesellschaften - German Private Equity and Venture Capital Association e.V. (BVK) welcomes the German government’s resolution to work out a private equity bill simultaneously with the corporate tax reform. "Our industry will benefit from this decision which shows that the government will support private equity.” , says Thomas U.W. Puetter, Chairman of the BVK Board. "Thus, regulations concerning investments can be adjusted in both bills and collateral disadvantages can be avoided.”

For the Association the Berlin resolution is the logical conclusion of the objectives laid down in the coalition treaty of 11 November 2005 where the coalition government had recognised the economic impact of the private equity industry and promised to improve the environmental conditions for private equity investments in Germany.

“It is our opinion that investors, funds and portfolio companies have a lot to catch up on clear and competitive regulations.”, explains Prof Dr. Wilhelm Haarmann, Member of the BVK Board.  Thanks to the government’s resolution private equity will get the chance to finally have internationally competitive environmental conditions and, moreover,  there will be prerequisites for positive economic effects on financing innovation, growth and succession.

The government decided that the private equity bill and the corporate tax reform will become effective on 1 January 2008.

Please contact us:

Bundesverband Deutscher Kapitalbeteiligungsgesellschaften – German Private Equity and Venture Capital Association e.V. (BVK)
Thomas U. W. Puetter, Chairman of the BVK Board
Dr Holger Frommann, Managing Director
Reinhardtstrasse 27c
10117 Berlin
Germany
Phone: +49.(0)30.30 69 82-0
Fax:   +49.(0)30.30 69 82-20
E-Mail:  bvk@bvk-ev.de
Web:    www.bvk-ev.de
 
VOCATO public relations
Birgit Brabeck
Bahnstrasse 19
50858 Köln
Germany
Phone: +49.(0)2234.6 01 98-18,
E-Mail:  bbrabeck@vocato.com

About the BVK

The BVK Bundesverband Deutscher Kapitalbeteiligungsgesellschaften – German Private Equity and Venture Capital Association e.V. (BVK) was founded in 1989 in Berlin. It represents German private equity and venture capital firms as well as international firms operating in Germany. Its main task is to represent its members’ interests and to foster public understanding of the work and role of private equity investors as reliable partners for companies, initiators of economic growth and a factor of stability for the German economy.