Brief: Germany Financial Watchdog Bafin Says It Has Found Consolidated Financial Statements Of Patrizia Are Inaccurate As Of December 31, 2023
05/08/2025 10:05
Aug 5 (Reuters) - GERMANY FINANCIAL WATCHDOG BAFIN: HAS FOUND THAT THE CONSOLIDATED FINANCIAL STATEMENTS OF PATRIZIA ARE INACCURATE AS OF DECEMBER 31, 2023 PATRIZIA ACQUIRED A GROUP OF COMPANIES IN 2022 AND AGREED WITH THE SELLING SHAREHOLDERS THAT THEY WOULD CONTINUE TO WORK FOR THE ACQUIRED COMPANY PATRIZIA HAD INADMISSIBLY LINKED THE VALUE OF THE ACQUIRED GROUP OF COMPANIES AND THE COSTS OF RETAINING THE STAFF. BOTH SHOULD HAVE BEEN RECORDED SEPARATELY FROM EACH OTHER PATRIZIA HAS RECOGNISED THE ERROR IN THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE 2024 FINANCIAL YEAR AND HAS ALREADY CORRECTED IT IN ACCORDANCE WITH THE REQUIREMENTS OF IFRS Further company coverage: [PATGn.DE] (Gdansk Newsroom) ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))