Commerzbank: owns more than 90 percent of comdirect
(CercleFinance.com) - Commerzbank said it has secured more than 90 percent of the shares of comdirect, crossing the required threshold for the merger by means of a squeeze-out.
The German lender said it will soon acquire a stake in comdirect from institutional investor Petrus Advisers for a purchase price that has not been disclosed.
Once the transaction has been completed, Commerzbank will hold more than 90 percent, laying the basis for an integration of the online bank into Commerzbank.
Commerzbank said it now plans to realise the "significant synergy potential" resulting from the deal.
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