Deutsche Bank Completes Deutsche Postbank Takeover
Deutsche Bank has announced that the voluntary public takeover offer for all shares in Deutsche Postbank will be concluded with the purchase of at least 21.48% of Postbank stock, thereby leading to a majority shareholding in Postbank.
Following a resale of Postbank shares Deutsche Bank will initially hold 49.95% of the stock in Postbank until the transaction is approved for US anti-trust purposes.
“We are pleased that the majority of holders of Postbank shares in free float have accepted our takeover offer. Deutsche Bank and Postbank will now intensify the co-operation. We will consolidate Postbank by the end of this year as planned. In the future, Deutsche Bank Group will have more stable revenues and a more balanced earnings mix,” said Dr Josef Ackermann, chairman of the management board of Deutsche Bank.
Postbank customers will experience no changes in their daily banking services. Their bank account number and bank code will remain the same. Customers will benefit from a broad banking portfolio based on a joint banking platform.