The shareholders of Eurohypo AG agreed that one of their major shareholders, Commerzbank, will acquire the shareholdings in Eurohypo which are owned by Allianz and Deutsche Bank. This is subject to approval by the committees and the cartel office.
This takeover will not affect Eurohypo's legal entity or its independence. Even under different conditions, Eurohypo will be consistently pursuing the strategy it has been following in recent years, which has given it market leadership in its business divisions throughout Europe.
The reason for Commerzbank and Eurohypo joining forces is that together, they shall be able to exploit the market potential in Germany and on an international level. There are a whole series of starting points for this, including some in the Retail Banking, Corporate Banking and Real Estate Investment Banking divisions.
"Within the new set-up, we will continue to act as your trusted and competent partner. In future, we will be part of a financial group which, together with us, is moving forward with the international competition. Finally, this also strengthens our proven approach to relationship banking", said Berd Knobloch from Eurohypo.
Source: Eurohypo
