- UniCredit has acquired a 9% equity stake in Commerzbank.
- Of this, 4.49% was purchased through an accelerated book building offering for $775 million, actioned on behalf of the German Federal Republic.
- The German government holds a 16.49% share in Commerzbank through the Financial Market Stabilisation Fund (FMS) since the 2008 financial crisis. The government recently announced plans to reduce its stake.
- The remainder of UniCredit’s stake was acquired through market activity for an undisclosed amount.
- UniCredit plans to submit regulatory filings to potentially increase its stake and collaborate with Commerzbank to explore value-creating opportunities for stakeholders.
- Commerzbank emphasized that its management and supervisory board will act in the best interests of shareholders, employees, and clients.
- Commerzbank CEO Manfred Knof announced he will step down at the end of his term in December 2025 and the bank will begin searching for his successor.
