In 1993, Metallgeschaft A. G. was the 14th largest corporation in Germany. It is a
large conglomerate with over 251 subsidiaries representing interests in metals, mining and
engineering. Sales in 1992 were over DM 26 billion (US$ 16 billion) and assets totaled
about DM 17.8 billion (US$ 10 billion). Only about 35 percent of Metallgesellschaft
shares were freely traded. The remaining 65 percent were held by seven institutional
investors: the Emir of Kuwait, Dresden Bank, Deutsche Bank, Allianz, Daimler-Benz, the
Australian Mutual Provident Society and M.I.M. Holdings Ltd. of Australia.