Capital structure and corporate governance

We are managed under the umbrella of Merck KGaA, Darmstadt, Germany, a Corporation with general partners (Kommanditgesellschaft auf Aktien - KGaA). At least one partner has unlimited liability for the company’s creditors (general partner).  The others (shareholders) hold an interest in the share capital without any personal liability for the company’s debts. It is therefore a hybrid of an Aktiengesellschaft (German stock corporation) and a Kommanditgesellschaft  with a focus on German stock corporation law.
These are the differences between a German corporation with general partners and a German stock corporation:
  • The businesses must be run by personally liable partners
  • There is no Management Board
  • The rights and obligations of the Supervisory Board are limited.
  • Numerous resolutions made by the Annual General Meeting require the approval of the general partners
Shareholders hold around 30% of the total capital of Merck KGaA, Darmstadt, Germany, and the family owns an interest of around 70% via E. Merck KG, Darmstadt, Germany, the general partner.
 
Capital structure and corporate bodies of Merck KGaA, Darmstadt, Germany
Capital structure and corporate bodies of Merck KGaA, Darmstadt, Germany
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DISCLAIMER

Publication of Merck KGaA, Darmstadt, Germany.
In the United States and Canada the subsidiaries of Merck KGaA, Darmstadt, Germany, operate under the umbrella brand EMD.
 
 
  
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