Report by the Executive Board regarding
Dealings among Group Companies
In accordance with § 312 Aktiengesetz (German Stock Corporation Act), the Executive
Board has issued a report regarding dealings among Group companies which contains
the following concluding declaration: “According to the circumstances known to
us at the time the transactions were executed, or measures were implemented or
omitted, Beiersdorf Aktiengesellschaft received appropriate consideration for every
transaction and has not been disadvantaged by the implementation or omission of
any measures.”
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