Commerzbank: Paves Way to Gain Full Ownership of Comdirect Unit
- The German lender has struck a deal to buy a block of comdirect shares from Petrus Advisers for an undisclosed price
- Under German law, Commerzbank has increased its holding in comdirect to over 90%
- Commerzbank can now also squeeze out remaining shareholders
- The decision to take full control of comdirect part of a strategic plan laid out in September
- Commerzbank will offer comdirect’s excellent brokerage services to all Commerzbank customers
- Earlier Commerzbank was in advanced talks to buy Petrus Advisers’ 7.5% stake
