The German lender will buy a block of comdirect shares from Petrus Advisers for an undisclosed price
In Brief:
- Commerzbank has increased its holding in comdirect to over 90%.
- The deal paves the way for full ownership of the online brokerage.
- Under German law, with more than 90% of comdirect shares, Commerzbank can now squeeze out remaining shareholders.
What does this mean
The decision to take full control is part of a strategic plan that includes a 750 million euro investment in digitalisation and IT infrastructure.
