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Commerzbank To Raise Comdirect Stake - Quick Facts

Commerzbank AG (CRZBY.PK) said it will acquire an equity stake in comdirect bank (CDBG) from institutional investor Petrus Advisers Ltd. With this purchase, Commerzbank will hold more than 90 percent of the shares of comdirect, and has thus reached the required investment threshold for the merger of comdirect into Commerzbank by means of a squeeze-out.

"With the increase of our comdirect stake, we have laid the basis for a swift merger of comdirect into Commerzbank. This is an important step to quickly and efficiently execute the integration of our successful direct banking subsidiary and realise significant synergies. This is a key component of our Commerzbank 5.0 strategy," said Martin Zielke, Chairman of the Board of Managing Directors of Commerzbank.

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