Noerr advises comdirect bank AG on intended public purchase offer by Commerzbank AG

Noerr is advising comdirect bank AG on Commerzbank AG’s intended public purchase offer.

The minority shareholders are to be offered cash compensation of EUR 11.44 for each denominated bearer share in comdirect bank AG with an imputed share of capital stock of EUR 1.00 per share. The offer is planned to be subject to a minimum acceptance ratio of 90 per cent. The objective is that comdirect will be merged with Commerzbank and that this merger will essentially be conducted by way of a squeeze-out under merger law.

A Noerr team led by Volker Land, co-head of Noerr’s Hamburg office and specialist for banking M&A and takeover law, is advising comdirect comprehensively on this transaction. Another Noerr team led by Volker Land already advised comdirect on the sale of its B2B direct bank ebase.

Advisors to comdirect Bank AG: Noerr LLP

Dr Volker Land (lead, Corporate/M&A, Hamburg), Dr Stephan Schulz (Capital Markets, Hamburg), Dr Maurice Séché (Corporate/M&A, Düsseldorf), Sebastian de Schmidt (Capital Markets, Frankfurt), Dr Patrick Mückl (Employment, Düsseldorf)

Associates: Dr Philip Schmoll (Capital Markets, Frankfurt), Dr Jan Hoffmann Linhard (Corporate/M&A, Hamburg), Dr Wolfgang Wittek (Employment, Hamburg)

In-house counsel comdirect bank AG: Dietmar Gabor