Commerzbank: holds 82.6% of comdirect after tender offer
(CercleFinance.com) - Commerzbank said in a statement that it now holds a 82.
6% stake in online bank comdirect after launching a tender offer on the shares.
As the acquisition deadline of 6 December has now expired, comdirect shareholders have tendered a total of 457,343 shares, Commerzbank said.
Commerzbank noted that the offer was conditional on a minimum acceptance threshold of 90% that has not been met, meaning that comdirect's integration will take place by means of a direct merger.
In other words, comdirect's shareholders will receive Commerzbank shares in exchange for their shares.
Commerzbank also said on Wednesday that the European Central Bank had set the bank's CET1 requirement for 2020 at 11.36% of total assets.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
6% stake in online bank comdirect after launching a tender offer on the shares.
As the acquisition deadline of 6 December has now expired, comdirect shareholders have tendered a total of 457,343 shares, Commerzbank said.
Commerzbank noted that the offer was conditional on a minimum acceptance threshold of 90% that has not been met, meaning that comdirect's integration will take place by means of a direct merger.
In other words, comdirect's shareholders will receive Commerzbank shares in exchange for their shares.
Commerzbank also said on Wednesday that the European Central Bank had set the bank's CET1 requirement for 2020 at 11.36% of total assets.
Copyright (c) 2019 CercleFinance.com. All rights reserved.