HOECHST AG /ADR/
SC 13G, 1999-04-09
AMERICAN DEPOSITARY RECEIPTS
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  ------------

                                  SCHEDULE 13G

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                               (Amendment No. ___)

                                   HOECHST AG
- --------------------------------------------------------------------------------
                                (Name of issuer)

                                  COMMON STOCK
- --------------------------------------------------------------------------------
                         (Title of class of securities)

                                 CINS: D33191103
- --------------------------------------------------------------------------------
                                 (CUSIP number)

                                  APRIL 9, 1999
- --------------------------------------------------------------------------------
             (Date of Event which requires filing of this Statement)

     Check the appropriate box to designate the rule pursuant to which this
                               schedule is filed:

                               | | Rule 13d-1 (b)
                               |X| Rule 13d-1 (c)
                               | | Rule 13d-1 (d)
<PAGE>
- ---------------------------------                          
   CUSIP No. CINS: D33191103                   13G         
- ---------------------------------                          

- -------- -----------------------------------------------------------------------
1        NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

         Deutsche Bank A.G.
- -------- -----------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP              (a) |_|
                                                                       (b) |_|
- -------- -----------------------------------------------------------------------
3        SEC USE ONLY

- -------- -----------------------------------------------------------------------
4        CITIZENSHIP OR PLACE OF ORGANIZATION

         Federal Republic of Germany
- ---------------------------- ------ --------------------------------------------
NUMBER OF SHARES             5      SOLE VOTING POWER
                                    8,094,272*
                             ------ --------------------------------------------
BENEFICIALLY OWNED BY               SHARED VOTING POWER
                             6      21,155,913
                             ------ --------------------------------------------
EACH REPORTING                      SOLE DISPOSITIVE POWER
                             7      8,094,272*
                             ------ --------------------------------------------
PERSON WITH                         SHARED DISPOSITIVE POWER
                             8      22,734,216
- -------- -----------------------------------------------------------------------
 9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

         30,828,488*
- -------- -----------------------------------------------------------------------
10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES                                                    |_|
- -------- -----------------------------------------------------------------------
11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

         5.2%
- -------- -----------------------------------------------------------------------
12       TYPE OF REPORTING PERSON

         HC, BK, CO
- -------- -----------------------------------------------------------------------
- --------------------------------
*    Includes  shares held in short-term  trading  accounts  which may be deemed
     "beneficially  owned" but are not considered part of the Reporting Person's
     proprietary holdings under German reporting procedures.
<PAGE>
ITEM 1(A).     NAME OF ISSUER:

               Hoechst AG (the "Issuer")

ITEM 1(B).     ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

               The  address  of the  Issuer's  principal  executive  offices  is
Brueningstrasse 50, 65926 Frankfurt, Germany.

ITEM 2(A).     NAME OF PERSON FILING:

               This  statement  is filed on behalf of Deutsche  Bank AG ("DBAG")
(the "Reporting Person").

ITEM 2(B).     ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

               The  principal  place of  business  of DBAG is  Taunusanlage  12,
D-60325, Frankfurt am Main, Federal Republic of Germany.

ITEM 2(C).     CITIZENSHIP:

               The  citizenship  of the  Reporting  Person  is set  forth on the
applicable cover page.

ITEM 2(D).     TITLE OF CLASS OF SECURITIES:

               The title of the securities is common stock (the "Common Stock").

ITEM 2(E).     CUSIP NUMBER:

               The CUSIP  number of the Common  Stock is set forth on each cover
page.

ITEM 3.        IF THIS  STATEMENT  IS  FILED  PURSUANT  TO  RULES  13D-1(B),  OR
               13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:

               (a) |_|  Broker or dealer registered under section 15 of the Act;

               (b) |_|  Bank as defined in section 3(a)(6) of the Act;

               (c) |_|  Insurance  Company as defined in section 3(a)(19) of the
                        Act;

               (d) |_|  Investment  Company  registered  under  section 8 of the
                        Investment Company Act of 1940;

               (e) |_|  An  investment  adviser  in  accordance  with Rule 13d-1
                        (b)(1)(ii)(E);

               (f) |_|  An  employee   benefit  plan,   or  endowment   fund  in
                        accordance with Rule 13d-1 (b)(1)(ii)(F);

               (g) |_|  A parent holding company or control person in accordance
                        with Rule 13d-1 (b)(1)(ii)(G);

               (h) |_|  A savings  association as defined in section 3(b) of the
                        Federal Deposit Insurance Act;

               (i) |_|  A church plan that is excluded from the definition of an
                        investment   company  under  section   3(c)(14)  of  the
                        Investment Company Act of 1940;

               (j) |_|  Group, in accordance with Rule 13d-1 (b)(1)(ii)(J).

               If this statement is filed pursuant to Rule 13d-1 (c), check this
box. |X|

ITEM 4.        OWNERSHIP.

               (a)  AMOUNT BENEFICIALLY OWNED:

                    The Reporting  Person owns the amount of the Common Stock as
               set forth on the applicable cover page.

               (b)  PERCENT OF CLASS:

                    The  Reporting  Person owns the  percentage  of the Ordinary
               Shares as set forth on the applicable cover page.

               (c)  NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:

                    (i)  SOLE POWER TO VOTE OR TO DIRECT THE VOTE:

                         The  Reporting  Person  has the  sole  power to vote or
                    direct  the vote of the  Common  Stock  as set  forth on the
                    applicable cover page.

                   (ii)  SHARED POWER TO VOTE OR TO DIRECT THE VOTE:

                         The  Reporting  Person has the shared  power to vote or
                    direct  the vote of the  Common  Stock  as set  forth on the
                    applicable cover page.

                  (iii)  SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF:

                         The  Reporting  Person has the sole power to dispose or
                    direct the  disposition  of the Common Stock as set forth on
                    the applicable cover page.

                   (iv)  SHARED POWER  TO DISPOSE  OR TO  DIRECT THE DISPOSITION
                         OF:

                         The Reporting Person has the shared power to dispose or
                    direct the  disposition  of the Common Stock as set forth on
                    the applicable cover page.

ITEM 5.        OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

               Not applicable.

ITEM 6.        OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

               Investment  management  clients of the Reporting  Person have the
ultimate right to any dividends from Common Stock and the proceeds from the sale
of Common Stock.

ITEM 7.        IDENTIFICATION   AND   CLASSIFICATION  OF  THE  SUBSIDIARY  WHICH
               ACQUIRED THE  SECURITY  BEING  REPORTED ON BY THE PARENT  HOLDING
               COMPANY.

               The  following  subsidiaries  of DBAG  which  hold  Common  Stock
included in the figure on the cover pages: Morgan Grenfell Investment Management
Limited,   Morgan  Grenfell   Investment   Services  Limited,   Morgan  Grenfell
International Fund Management Limited,  Tokai Morgan Grenfell International Fund
Management Limited, Morgan Grenfell Trust Managers Limited, Morgan Grenfell Unit
Trust  Managers  Limited,   Deutsche  Gesellschaft  fuer  Wertpapiersparen  mbH,
Deutsche Fund  Management  Inc.,  Deutsche  Vermoegensbildungsgesellschaft  mbH,
Deutsche Bank Investment  Management S.A., DWS (Austria)  Investmentgesellschaft
mbH, Finanza & Futuro S.p.A.,  DWS Investment  (Schweiz) AG, Deustche Bank Fonds
S.A.,   Deutsche  Morgan  Grenfell  (C.I.)  Ltd.,   Deutsche  Asset   Management
Investmentgesellschaft   mbH,  Deutsche  Asset  Management  International  GmbH,
Deutscher   Herold  Allg.   Vers.-AG  der  Deutschen  Bank,   Deutscher   Herold
Lebensvers.-AG  der Deutschen Bank,  Bonnfinanz AG fuer  Vermoegensberatung  und
Vermittlung, Deutsche Morgan Grenfell Group plc., Morgan Grenfell & Co. Ltd., DB
Luxembourg S.A., and DB (Suisse) S.A.

ITEM 8.        IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

               Not applicable.

ITEM 9.        NOTICE OF DISSOLUTION OF GROUP.

               Not applicable.

ITEM 10.       CERTIFICATION.

               By signing  below I certify that, to the best of my knowledge and
belief, the securities  referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing  the control of the
issuer of the  securities  and were not acquired and are not held in  connection
with or as a participant in any transaction having that purpose or effect.
<PAGE>
                                    SIGNATURE

               After  reasonable  inquiry  and to the best of my  knowledge  and
belief,  I certify  that the  information  set forth in this  statement is true,
complete and correct.

Dated:  April 9, 1999



                                                          DEUTSCHE BANK AG



                                            By:/s/ Dieter Eisele      
                                               --------------------------------
                                               Name:   Dr. Dieter Eisele
                                               Title:  Group Head of Compliance



                                            By:/s/ Rainer Grimberg
                                               --------------------------------
                                               Name:   Dr. Rainer Grimberg
                                               Title:  Vice President


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