GERMANY – B. Müller
What is PPP?
Planning
+ Building
+ Financing
+ Operation
(+ Post-contract life)
= PPP
PPP-Sectors:
PPP – construction, PPP – infrastructure
Movement of selected public
sectors
towards private structures
Public administration
PPP
Private sector
•Rail
•Post
•Waterways
•Telecommunications
•Road
•Energy supply
•Defence
•Water supply
•Water supply
•Water supply
•Health care
•Health care
•Health care
•Social services
•Social services
•Social services
•Waste disposal
•Waste disposal
•Waste disposal
•Sewage disposal
•Sewage disposal
•Sewage disposal
Folie 2
Types of PPP contracts
Folie 3
- in German law Differences and core content
Acquisition model
Hire-purchase of facility/asset
Owner model
Planning, construction, financing, operation under ownership
of the principal
Leasing model
Rent with option to buy
Rent model
Contract for rent extending beyond 10 years
Contracting model
Contract to operate the facility/asset
Licence model
Operation of facility/asset with user fees collected privately
Company model
Operation by way of project group
Folie 4
PPP project structure
- example Licenser
Construction
General contractor
Construction planning
Loan provider
Banks/capital market
Interest/repayment
Operator
Operation
Provision of
service
Remuneration
Project company
price and timeframe
Return
Maintenance
Loan
Licensee
Investors
Maintenance
Service
Concession
Grant
Equity capital
Construction at agreed
Shareholder
Advisor
Fed / Land / Municipality
Rent or
fee
Advisor
Public sector or
private sector use
Folie 5
History of PPP at EU level
07 May 2003
Commission publishes “Internal market strategy – priorities 2003 – 2006”, which highlights the need
to clarify legal issues relating to PPP. The publication of a green paper on PPP is announced.
21 May 2003
Commission publishes Green Paper on services of general interest. This paper entails a substantial
review of the Commission's service policy and asks whether a general legal framework should be
created at Community level for services of general interest. The Commission plans top publish a
green paper on public procurements and on PPP in the second half of the year.
30 Apr 2004
Commission adopts Green Paper
30 Apr 2004
Forwarded to the Council
30 Apr 2004
Forwarded to the European Parliament (EP)
27 Oct 2004
Opinion by the European Economic and Social Committee
17 Nov 2004
Opinion by the Committee of the Regions
End 2005
Commission announces resolution on further PPP legislation for the end of 2006
26 Oct 2006
Resolution by EP
Folie 6
History of PPP at federal level in Germany
Apr
2001
Federal Chancellor sets up “Kanzler-AG”
Jun
2002
Federal Chancellor announces PPP competence centre
Jul
2002
Steering committee (SC): “PPP in public construction works”
Feb
2003
PPP federal study commissioned
Jul
2003
Bundestag adopts motion for PPP resolution
Dec
2003
Agreement by federal states ministers responsible for building
Dec
2003
SC: Recommendations for framework conditions
Nov
2004
Members’ initiative “PPPs Acceleration Act”
Dec
2004
Agreement by federal state ministers responsible for finance (FMK)
Jul
2004
PPP Task Force set up
May
2005
Creation of federal PPP competence network
Sep
2005
PPPs Acceleration Act comes into force
Sep
2006
FMK decision: Standard guidelines on examining profitability
Source: PPP Task Force, Federal Ministry for Transport, Building and Urban Affairs
Folie 7
Market structure of PPP in Germany
More PPP
More private capital for public tasks
More co.’s in the provision of public services
Framework
Laws
Regulations
Tax law
Accounting law
Statistics law
Models
modify:
Provision
amendments:
Competition
law
More/bigger projects
Change in
rules on
awarding
contracts
Contracts
PC
PSC
Budget issues
System of NA
Double entry
bookkeeping
Admin.
building
Education
Research
Transport
Defence
PB
Health
= Profitability calculations
PSC = Public Sector Comparator
NA = National accounting
Folie 8
PPP organisation of the govt in Germany
Ministry of Finance
Ministry of Transport
Construction
Project working
group
PPP
Transport
Ministry of Defence
Civil
Defence
g.e.b.b.,
Dept. M / Group M I
Task Force
Ministry of Economics
Gesellschaft für
Entwicklung, Beschaffung
und Betrieb mbH
 Project development co.
Roads
Rail,
Sea,
Federal states
East
West
Deutsche Einheit
Fernstraßenplanungsund -bau GmbH
Deges
VIFG
= Project management co.’s
Air
Verkehrsinfrastrukturentwicklungsgesellschaft mbH
Folie 9
The PPP procurement process in Germany
Agreed procedure between central and regional government
The phases in the PPP procurement
process
Phase I
Steps in examining PPP profitability
Determining needs, financeability and profitability of measures
PPP test for suitability
Phase II
Drawing up conventional comparative values (Public Sector
Comparator – PSC)
Provisional examination of profitability
Determining the maximum amount to be appropriated in the
budget (budget readiness)
Phase III
Phase IV
Preliminary decision for or against
continuing to pursue varies PPP options
Preliminary decision for or against
publishing call for tender
Appropriation in budget and call for tender
Final profitability analysis
Final decision on awarding and signing of
contract
Project controlling
Folie 10
An example for possible risk allocation – traditional procurement vs. PPP
Private partner
PPP
deficient construction
unavailability
bad service
deficient construction
unavailability
bad service
insufficient usage
obsolescence
residual value below forecast
insufficient usage
obsolescence
residual value below forecast
Public sector
Traditional procurement
deterioration of commercial basis
(framework)
force majeure
changing legislation
deterioration of commercial basis
(framework)
force majeure
changing legislation
Folie 11
ABC modules of tender I
Module A: Construction
Mostly invitation to tender as a general contractor subject to the provisions
of the guidelines on awarding contracts; to be built, for example, on a piece
of land owned by the party issuing the invitation to tender
Module B: Financing part A
B1: conventional lease financing via the budget
B2: pure finance leasing (no equity capital of private investors,
thus no tax effects), sometimes with forfeiting.
B3: tax-optimised fund leasing models with equity capital of private investors.
Module C: Investor model
Same-source construction and financing on the basis of the conditions of
modules A and B with a fixed-price model without disclosing the details of
the calculation.
Folie 12
ABC modules of tender II
In addition to parts A, B und C, additional tenders can be invited in suitable cases:
Module D:
Similar to Module C, but using functional description of construction and
with the bidder’s own planning, possibly also on a piece of land owned
by the party inviting tender.
Module E:
Offers to buy, hire-purchase of simply rent suitable objects which have
already been built or which are in the process of being built.
Folie 13
Overview of the current status of the PPP Simplification Act
Project working group consisting of the majority parties in the German Bundestag and including representatives of German industry
As of May 2007
Budget
X
1
Health
Social infrastructure
X
No need
recognised
Taxes
X
2
Awarding of contract
Transport
Defence
4
X
3
No need
recognised
Note: The original timeframe for the legislation, which provided for a first reading of the PPP Simplification Act in the Bundestag in May 2007,
no longer applies. No new timeframe has yet been submitted
(1) The members of the CWGs consistently regarded the proposals by the advisors was not viable. Key issues where appropriate once proposals of the
"Hesse study" has been looked at by the Ministry of Health and the Länder working group "Hospital finances"
(2) Federal Ministry of Finance and Federal Ministry of Transport, Building and Urban Affairs are requested to submit proposals
(3) Advisor proposals concentrate on further development of the Transport Infrastructure Financine Company (VIFG) and on its becoming authorised to borrow
(4) Advisors see no specific need for action. Proposed amendments to the Federal Budget Ordinance were sent to the CWG "Law on government support"/"Budget"
Need for legislation is covered by the amendments to the Investment Act and the Law on Public Procurements
Folie 14
Overview of standardisation work of central
and regional governments in Germany
Field of competence
Draft
Agreement
Publishing
1
Guidelines on examining profitability of
PPP projects
O
2
Guidelines on awarding public contracts
O
3
“PPP and government support legislation”
O
study
4
PPP and budget appropriation
5
Guidelines on PPP and SME’s*
O
6
PPP School study
O
7
A-model awarding of contracts
O
* SME = Small and Medium sized Enterprises
O
Folie 15
Table of PPP Projects I
Sektor
Projekt / Ort
Auftraggeber
Bundesland
Vertragsmodell
Zuschlag
erteilt
Jan 02
1
Sport/Kultur
Thermalbad in Wiesbaden
Landes - Hauptstadt Wiesbaden
Hessen
Bau- und Unterhaltungsvertrag
2
Bildung
Bildungszentrum Ostend in Frankfurt/Main
Stadt Frankfurt am Main
Hessen
PPP-Mietmodell mit Erwerb nach 20 Jahren
Jul 03
3
Bildung
Schulen in Monheim
Stadt Monheim
Nordrhein-Westfalen
PPP-Inhabermodell
Jan 04
4
Bildung
Sonderschule und Dreifachsporthalle in Frechen
Rhein-Erft-Kreis
Nordrhein-Westfalen
PPP-Inhabermodell
Feb 04
5
Bildung
Schulen und Sporthallen im Kreis Offenbach (Los West)
Kreis Offenbach
Hessen
Gesellschaftsmodell
Mrz 04
6
Sonstige
Parkhaus am Bundesverwaltungs-gericht in Leipzig
Stadt Leipzig
Sachsen
Erbbaurechtsvertrag mit Bauverpflichtung (Konz.)
Apr 04
7
Bildung
Sonderschule, Gütersloh
Kreis Gütersloh
Nordrhein-Westfalen
PPP-Inhabermodell Erbbaurecht
Jun 04
8
Sport/Kultur
Sporthallen in Münster
Stadt Münster
Nordrhein-Westfalen
PPP-Inhabermodell
Jun 04
9
Sport/Kultur
Freizeitbad in Lüdinghausen
Stadt Lüdinghausen
Nordrhein-Westfalen
Erbbaurechtsvertrag mit Bauverpflichtung
Jun 04
10
Sport/Kultur
Lipperlandhalle
Kreis Lippe
Nordrhein-Westfalen
PPP-Inhabermodell
Jun 04
11
Bildung
Schulen in Witten
Stadt Witten
Nordrhein-Westfalen
PPP-Inhabermodell
Aug 04
12
Verwaltung
Kreishaus in Unna
Kreis Unna
Nordrhein-Westfalen
PPP-Inhabermodell
Sep 04
13
Verwaltung
Rathaus in Gladbeck
Stadt Gladbeck
Nordrhein-Westfalen
Inhabermodell (Nutzungsüberlassungsvertrag)
Sep 04
14
Bildung
Schulen im Kreis Offenbach (Los Ost)
Kreis Offenbach
Hessen
Gesellschaftsmodell
Nov 04
15
Sonstige
Parkhaus unter dem Bowling Green in Wiesbaden
Stadt Wiesbaden
Hessen
Bau- und Betriebs-konzession
Jan 05
16
Bildung
Schulen in Bedburg
Stadt Bedburg
Nordrhein-Westfalen
PPP-Inhabermodell
Mrz 05
17
Bildung
Schulen in Köln
Stadt Köln
Nordrhein-Westfalen
PPP-Inhabermodell
Apr 05
18
Sport/Kultur
Freizeitbad in Leimen
Stadt Leimen
Baden-Württemberg
Erbbaurechtsvertrag mit Bauverpflichtung
Apr 05
19
Sonstige
Logistikzentrum mit Parkhaus am Klinikum Dortmund
Ernesto Grund-stücksverwal-tungsgesell-schaft mbH
Nordrhein-Westfalen
Inhabermodell
Mai 05
20
Bildung
Berufsschulzentrum in Leverkusen
Stadt Leverkusen
Nordrhein-Westfalen
PPP-Inhabermodell
Jun 05
21
Sport/Kultur
Thermalbad in Fürth
Stadt Fürth
Bayern
22
Bildung
Schulen in Achim
Stadt Achim
Niedersachsen
Betreibermodell
Jun 05
PPP-Inhabermodell
Aug 05
PPP-Inhabermodell
Aug 05
23
Verwaltung
Landratsamt Bodenseekreis in Friedrichshafen
Bodenseekreis
Baden-Württemberg
24
Sport/Kultur
Misburger Bad in Hannover
Stadt Hannover
Niedersachsen
Erbbaurechtsvertrag mit Bauverpflichtung
Sep 05
25
Sonstige
Hubschraubertrainingssimulatoren, Bückeburg, Holzdorf u. Fassberg Bundesamt für Wehrtechnik und Beschaffung
Niedersachsen
Konzessionsmodell
Nov 05
26
Sport/Kultur
Hallen- und Freibad in Senden
Gemeinde Senden
Nordrhein-Westfalen
Betreibermodell
Nov 05
27
Bildung
KITA, Münster-Roxel
Stadt Münster
Nordrhein-Westfalen
PPP-Inhabermodell
Dez 05
28
Sport/Kultur
Bäderzentrum in Cottbus
Stadt Cottbus
Brandenburg
Betreibermodell
Dez 05
29
Bildung
Sekundarschule in Barleben
Gemeinde Barleben
Sachsen-Anhalt
PPP-Inhabermodell
Feb 06
30
Sonstige
Parkhaus an der Universitätsklinik Düsseldorf
Uni-Klinik Düsseldorf, Bau- und Liegenschaftsbetrieb NRW
Nordrhein-Westfalen
31
Bildung
Gymnasium in Schwarzenbek
Stadt Schwarzenbek
Schleswig-Holstein
32
Bildung
Kita und Familienzentrum, Langenhagen
Stadt Langenhagen
Niedersachsen
33
JVA
JVA, Stadelheim
Land Bayern
Bayern
34
Gesundheit
Westdeutsches Protonentherapiezentrum, Essen
Uni-Klinik Essen, Westdeutsche Prot.therapiezentrum Essen gGmbH
35
Verwaltung
Ortsgericht, Pforzheim
Stadt Pforzheim
PPP-Konzessionsmodell (Erwerbermodell)
Apr 06
PPP-Inhabermodell
Mai 06
PPP-Inhabermodell
Mai 06
Priv. Vorfinanzierung mit Energie-Contracting
Mai 06
Nordrhein-Westfalen
Mietmodell mit Erwerbsoption
Jun 06
Baden-Württemberg
PPP-Erwerbermodell
Jun 06
Folie 16
Table of PPP Projects II
Vertragsmodell
Zuschlag
erteilt
Sektor
Projekt / Ort
Auftraggeber
Bundesland
36
Bildung
Gymnasium in Twistringen
Stadt Twistringen
Niedersachsen
PPP-Inhabermodell
Jul 06
37
Bildung
Schulen in Köln (Mittelstandspaket)
Stadt Köln
Nordrhein-Westfalen
PPP-Inhabermodell
Aug 06
38
Sport/Kultur
Multifunktionssporthalle in Bestensee
Gemeinde Bestensee
Brandenburg
PPP-Inhabermodell
Aug 06
39
Verwaltung
Altstädtisches Rathaus in Brandenburg a.d.Havel
Stadt Brandenburg
Brandenburg
PPP-Inhabermodell
Aug 06
40
Sport/Kultur
Keitum-Therme, Sylt Ost
Gemeinde Sylt-Ost
Schleswig-Holstein
Gesellschaftsmodell
Sep 06
41
Verwaltung
Justizzentrum, Chemnitz
Freistaat Sachsen (SIB)
Sachsen
PPP-Inhabermodell
Sep 06
42
Sport/Kultur
Sportstätten, Bad Oldesloe
Bad Oldesloe
Schleswig-Holstein
PPP-Inhabermodell
Sep 06
43
JVA
JVA, Offenburg
Land Baden-Württemberg
Baden-Württemberg
PPP-Inhabermodell
Okt 06
44
Bildung
Schule, Neuss
Schulgebäude am Stadtwald GmbH i.Gr., Stadt Neuss Gesellschafter
Nordrhein-Westfalen
PPP-Inhabermodell
Nov 06
45
Bildung
Berufsbildende Schulen, Buchholz i.d.N
Landkreis Harburg
Niedersachsen
PPP-Inhabermodell mit Eigentumsübergang
Nov 06
46
Verwaltung
Finanzzentrum Altmarkt, Kassel
Land Hessen
Hessen
PPP-Vermietungs-modell
Nov 06
47
Bildung
Schulen, Halle
Stadt Halle
Sachsen-Anhalt
PPP-Inhabermodell
Dez 06
48
Bildung
Kitas, Halle
Stadt Halle
Sachsen-Anhalt
PPP-Inhabermodell
Dez 06
49
JVA
JVA, Burg
Land Sachsen-Anhalt
Sachsen-Anhalt
PPP-Inhabermodell
Dez 06
50
Verwaltung
Heinrich-Böll-Stiftung, Berlin (Investition aus Mitteln der BRD)
Heinrich-Böll-Stiftung
Berlin
PPP-Inhabermodell
Dez 06
51
Bildung
Schulen, Lahn-Dill-Kreis / Wetzlar
Kreis Lahn-Dill
Hessen
PPP-Inhabermodell
Jan 07
52
Verwaltung
Rathaus, Freudenberg
Stadt Freudenberg
Nordrhein-Westfalen
PPP-Inhabermodell
Feb 07
Nordrhein-Westfalen
PPP-Inhabermodell
Mrz 07
PPP-Inhabermodell
Mrz 07
Betreibermodell
Mrz 07
PPP-Vermietungsmodell
Mrz 07
PPP-Inhabermodell mit Eigentumsübergang
Mrz 07
53
Bildung
Schulen, Düren
Stadt Düren
54
Sport/Kultur
Elbphilharmonie, Hafencity Hamburg
55
Sport/Kultur
Sport- und Veranstaltungszentrum, Schwerin
56
Verwaltung
Justiz- und Verwaltungszentrum, Wiesbaden
Stadt Hamburg / ReGe Hamburg Projekt-Realisierungsges.schaft mbH Hamburg
MecklemburgStadt Schwerin
Vorpommern
Stadt Wiesbaden, Land Hessen
Hessen
57
Bildung
Berufsbildende Schulen, Winsen
Landkreis Harburg
Niedersachsen
58
Bildung
Gymnasium, Kirchseeon
Landkreis Ebersberg
Bayern
PPP-Inhabermodell
Mai 07
59
Bildung
Grundschule und Kita, Hamburg
Stadt Hamburg
Hamburg
PPP-Inhabermodell
Mai 07
60
Sport/Kultur
Rudolf-Harbig-Stadion, Dresden
Stadt Dresden
Sachsen
Konzessionsmodell
Jun 07
61
Sport/Kultur
Sportpark, Niederkassel
Stadt Niederkassel
Nordrhein-Westfalen
PPP-Inhabermodell
Jun 07
62
Verwaltung
Behördenzentrum , Heidelberg
Land Baden-Württemberg
Baden-Württemberg
PPP-Vermietungs-modell
Jun 07
63
Sport/Kultur
Medienhaus, Mühlheim an der Ruhr
Stadt Mühlheim an der Ruhr
PPP-Inhabermodell
Jul 07
64
Bildung
Gymnasium, Lübz, Landkreis Parchim
Landkreis Parchim
65
Sport/Kultur
Multifunktionshalle und Sportinternat Ludwigsburg
Stadt Ludwigsburg
Nordrhein-Westfalen
MecklemburgVorpommern
Baden-Württemberg
66
Bildung
Schulen, Frankfurt
Stadt Frankfurt am Main
Hessen
67
Sport/Kultur
Thermalbad, Thale
Stadt Thale
Sachsen-Anhalt
68
Sport/Kultur
Sporthalle, Halstenbek
Gemeinde Halstenbek
Schleswig-Holstein
69
Sport/Kultur
Schwimmhalle Burgstädt
Stadt Burgstädt
Sachsen
70
Bildung
Gesamtschule Rodenkirchen, Köln
Stadt Köln
Nordrhein-Westfalen
PPP-Inhabermodell
Jul 07
Aug 07
PPP-Inhabermodell
Aug 07
PPP-Konzessionsmodell
Aug 07
PPP-Inhabermodell
Sep 07
Sep 07
PPP-Inhabermodell
Okt 07
Folie 17
Table of PPP Projects III
Sektor
Vertragsmodell
Zuschlag
erteilt
Schleswig-Holstein
PPP-Inhabermodell
Okt 07
Nordrhein-Westfalen
PPP-Inhabermodell
Okt 07
Okt 07
Projekt / Ort
Auftraggeber
Bundesland
Sporthalle Ahrensburg
Stadt Ahrensburg
Wald- und Hauptschule Lohmar
Stadt Lohmar
71
Sport/Kultur
72
Bildung
73
Verwaltung
Amt für Bodenmanagement Limburg
Land Hessen
Hessen
PPP-Vermietungsmodell
74
Verwaltung
Amt für Bodenmanagement Korbach
Land Hessen
Hessen
PPP-Vermietungsmodell
Okt 07
75
Bildung
Schulen, Stadt Cottbus
Stadt Cottbus
Brandenburg
PPP-Inhabermodell
Nov 07
76
Bildung
Schulen, Magdeburg
Stadt Magdeburg
Sachsen-Anhalt
PPP-Inhabermodell
Nov 07
77
Sport/Kultur
Sportanlagen, Bochum
Stadt Bochum
Nordrhein-Westfalen
PPP-Inhabermodell
Dez 07
78
Verwaltung
Amt für Bodenmanagement Büdingen
Land Hessen
Hessen
PPP-Vermietungsmodell
Dez 07
79
Sport/Kultur
Oktopus-Bad, Siegburg
Stadt Siegburg
Nordrhein-Westfalen
80
Verwaltung
Polizeigebäude in Buchen
Land Baden-Württemberg
Baden-Württemberg
81
Bildung
Schulen, Bergneustadt
Stadt Bergenustadt
Nordrhein-Westfalen
82
Sport/Kultur
Sport- und Wellnessbad in Bedburg
Stadt Bedburg
Nordrhein-Westfalen
Dez 07
Dez 07
PPP-Inhabermodell
Jan 08
Jan 08
Landesprojekte
Bundesprojekte
Focus of PPP investments
in public construction works in
Germany
Projects
awarded
Projects in the pipeline
Known
Estimated
Amount
amount
amount for
in € million
in € million
projects
in € million *
Schools / training centres
850
830
1.400
Administrative buildings
345
300
780
Prisons
200
50
200
Hospitals
135
170
1.030
Sports / cultural facilities
485
450
1.075
Car parks / logistics centres / miscellaneous
50
230
525
Federal buildings (barracks)
250
70
140
2.315
2.100
5.150
Total
Source: Die Deutsche Bauindustrie
* projected
Folie 18
Folie 19
Folie 20
Plans for the foundation of a company
called Partnerschaften Deutschland
Folie 23
What Partnerschaften Deutschland represents
Partnerschaften Deutschland is conceived as a broadly positioned
quality service provider offering comprehensive consulting services on
PPP matters for the public sector – with a focus on the early stages.
What Partnerschaften Deutschland offers:
– Objectivity, independence and credibility
– Cost savings (optimisation of processes, standardisation,
know-how)
– Speed (especially easy to engage its services)
But:
Public authorities can continue to procure consulting services
on the open market
Folie 24
Partnerschaften Deutschland’s areas of activity
Dual mission
Project
advisory
service
Areas of activity
Specific investment projects
Providing highly qualified, professional advice for the public
sector when examining the use of PPP for investment
projects as well as when scoping and implementing specific
PPP projects
Framework conditions
Advising the public sector in further developing standards
and the institutional basis for PPP
Basic PPP
advisory
service on
behalf of
public
sector
Systematic knowledge transfer
Promoting knowledge transfer between all involved in PPPs,
targeted build-up of PPP know-how within the public
administration
Market development
Highlighting areas of priority for PPP and supporting
policymakers and the administration in creating a sustainable
PPP pipeline
Folie 25
Organisation and ownership structure
of Partnerschaften Deutschland
Shareholdings
Companies/
executive bodies
Advisory bodies
Public-sector shareholders
Federation Länder
Private-sector shareholders
Industry, banks, etc.
Local authorities
1%
99%
Holding
company
50.1%
Advisory
board
49.9%
General meeting
Supervisory Board
Management board
Partnerschaften Deutschland
Folie 26
Avoiding the adviser/tenderer problem and conflicts of interest
 Avoiding the adviser/tenderer conflict and direct
holdings through the interposition of the holding
company and avoiding overlap between representatives
of private shareholders and bodies or employees of
Partnerschaften Deutschland
 Delegation of staff from the private shareholders of the
holding company are excluded from Partnerschaften
Deutschland for project work
 As the holding company is not dedicated to a specific
purposes and is not dominated by one company (or
industry) either, steps have been taken to ensure that
the operative activities of Partnerschaften Deutschland
cannot be influenced by the particular interests of its
shareholders
Folie 27
Procedure for selecting private shareholders
Informal
survey of
market’s
interest
Examine
markets‘
interest
in participation
Formal award procedure
Bidding competition
“Lots” to
include
different
PPP
industries
Selection of
applicants
qualified for PPP
Selection criteria Assessment criteria
 PPP
 Qualitative
experience /  Financial
references
 Ability
Award
Acquisition of
share in
holding company /
Partnerschaften
Deutschland
Criteria for the
award of holding
 Price for the
share
 Quality of the
concept for
participation