The annual general meetings of the two German Mergers & Acquisitions associations took place on July 20. As you know, in addition to our association founded in Frankfurt in 2002, there has also been a non-profit association since 2019, which was founded on the occasion of the German-Chinese M&A conference in Duisburg. This was necessary because the financing Brost Foundation is only allowed to support non-profit organizations.
Our old association, which was also founded as a non-profit organization, was later stripped of its non-profit status by the Frankfurt Registry Court on the grounds that someone who works for the economy cannot be a non-profit organization. We had to accept this at the time, but over the almost 20 years of our existence we had behaved exactly like a non-profit association and always delivered annual results of around zero. Nevertheless, we always had our eye on renewing our non-profit status because this gives us a completely different standing in the public eye as a neutral body and enables us to accept funding that we need for our own development of larger events, for research work and investigations.
After years of effort, the Munich registry court gave us the prospect of being able to establish our non-profit status by merging our old association with the new non-profit association based in Munich.
At the two annual members’ meetings of the two BM&A associations yesterday, July 20, we took a historically significant step for us by deciding to merge in the presence of a notary. Our notary can now register the merger to form the non-profit BM&A Association at the Munich Registry Court. Based on the positive signals we have received, we hope that we will be successful and that this will open up the desired new prospects for a number of lighthouse projects that we are working on in preparation. These include the first Corporate Transformation Day, which we have scheduled for October 7 at the Munich Future Center for New Technologies at the Deutsches Museum. I will keep you informed of further developments.
