Both H2 and O2 are coordinated to the coordinatively unsaturated comples 1 without bond breaking. While 1·H2 is only stable in a hydrogen atmosphere, 1·O2 does not split off oxygen even under high vacuum. At 60°C in solvents such as benzene, 1,2‐dichloroethane and 2‐propanol 1·H2 catalyzes the reductions of alkenes and ‐unsaturated ketones: thus for example benzylidene‐acetone in 2‐propanol gives benzylacetone and 4‐phenyl‐2‐butanol in a ratio of 54:1. equation image