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Securities and Exchange Commission
Washington, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 1)
Scudder Spain and Portugal Fund, Inc.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
811198100
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(CUSIP Number)
Gregory L. Melville
Bankgesellschaft Berlin AG
Alexanderplatz 2
D-10178 Berlin
Germany
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 10, 1997
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(Date of Event which Requires
Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box. [ ]
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SCHEDULE 13D
CUSIP NO. 811198100 PAGE 2 OF 5 PAGES
<S> <C> <C>
1. NAME OF REPORTING PERSON
S.S. OR I.R.S IDENTIFICATION NO. OF ABOVE PERSON
Bankgesellschaft Berlin AG
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS WC
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION Federal Republic of Germany
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NUMBER OF 7. SOLE VOTING POWER 627,350
SHARES ------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 0
OWNED BY ------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 627,350
REPORTING ------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 627,350
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.6%
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14. TYPE OF REPORTING PERSON BK
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This Amendment No. 1 amends and supplements Items 3 and 5 of the
Schedule 13D of Bankgesellschaft Berlin AG (the "Bank") with respect to the
shares of Common Stock, par value $.01 per share (the "Common Stock"), of
Scudder Spain and Portugal Fund, Inc. (the "Fund").
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The source of the funds used by the Bank to purchase shares
of Common Stock listed in Item 5(a) was working capital. The amount of the
funds used to purchase such shares aggregated approximately $8,707,766
(exclusive of commissions).
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) The Fund's preliminary proxy statement, dated August 22,
1997, relating to a Special Meeting of Stockholders scheduled for October 21,
1997 states that, as of June 30, 1997, there were 6,511,154 shares of Common
Stock outstanding. The percentage set forth in this Item 5(a) was derived using
such number.
The Bank is the beneficial owner of 627,350 shares of Common
Stock, which constitute approximately 9.6% of the outstanding shares of Common
Stock.
(b) The Bank has sole power to vote and to dispose of the
shares of Common Stock owned by it.
(c) During the last sixty days, the Bank has effected the
following purchases in the shares of Common Stock. Purchases were made on the
New York Stock Exchange, except as otherwise indicated.
Date Number of Shares Purchased Price Per Share
- ----------------- ----------------------------- --------------------
October 23, 1997 8,000 $13.5625
November 11, 1997 300(1) 13.5728(2)
December 10, 1997 10,000 15.4375
December 10, 1997 200,000 15.4063
December 11, 1997 62,000 15.0000
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(1) Purchased on the Berlin Stock Exchange.
(2) Rounded to the nearest one-one hundredth of a penny after converting
from German Deutsche marks to United States dollars at prevailing
exchange rates.
(d) No person other than the Bank has the right to receive or
the power to direct the receipt of dividends from, or the proceeds from the
sale of, the shares of Common Stock owned
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by the Bank.
(e) It is inapplicable to state the date on which the Bank
ceased to be the beneficial owner of more than five percent of the Common
Stock.
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SIGNATURE
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Date: December 17, 1997 BANKGESELLSCHAFT BERLIN AG
By: /s/ Bartho Schroeder
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Name: Bartho Schroeder
Title: Director
By: /s/ Gregory L. Melville
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Name: Gregory L. Melville
Title: Assistant Director
Page 5 of 5 Pages
