The FINANCIAL — Commerzbank has successfully completed the full takeover of comdirect bank Aktiengesellschaft (“comdirect”). Yesterday, on 2 November 2020, the merger was entered in the Commercial Register of Commerzbank and therefore became effective. This brings the independence and stock-market listing of comdirect formally to an end. The shares of the remaining comdirect minority shareholders will be transferred to Commerzbank in return for a cash compensation of €12.75 per share within the next few days.
Following the merger, Commerzbank and comdirect will initially continue to operate their service offering as before. However, the aim is to merge and expand the offerings of the two banks. The new joint business model still needs to be defined and negotiated with the employee representatives. The previous comdirect locations Quickborn and Rostock will be retained. All employment relationships of comdirect employees that existed on the date of the merger are transferred to Commerzbank.