CommerzLeasing und Immobilien AG (CLI) and Commerz Grundbesitz Gruppe (CGG) - both member companies of Commerzbank Group - will integrate their activities before the end of the year. The merger will create one of the world's largest real estate asset managers and structuring/leasing service providers. The two companies' combined assets under management will total more than €41 billion.
The objective behind the corporate merger is the implementation of a joint growth strategy, intending to offer a wider one-stop product spectrum and to expand the existing investor and customer basis. Both operative headquarters will be retained, one being located in Düsseldorf (CLI), the other in Wiesbaden (CGG). Legal seat of the company will be Eschborn near Frankfurt am Main.
Dr. Frank Pörschke of CGG and Hubert Spechtenhauser of CLI are the company`s designated Management Spokesmen as they already serve in similar functions today. The other senior management members will be available to the company in similar positions as well. The companies belong to the Commercial Real Estate division of Commerzbank Group headed by board member Bernd Knobloch.
Both CGG and CLI have been reporting exceedingly successful business trends. For this reason the existing human resources will be taken over intact by the joint company.
Source: Commerz Grundbesitz Gruppe