Commerzbank AG — M&A Activity 2009

Oct 27, 2009

News Details

Corporate | 27 October 2009 17:30

Commerzbank to sell Privatinvest Bank to Zürcher Kantonalbank

Commerzbank AG / Disposal/Mergers & Acquisitions

27.10.2009

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Commerzbank to sell Privatinvest Bank to Zürcher Kantonalbank

Commerzbank is selling its 74% shareholding in Austrian Privatinvest Bank
to Zürcher Kantonalbank. The transaction is subject to approval by the
anti-trust and supervisory authorities. The parties have agreed to maintain
confidentiality about the details.

Following the integration of Dresdner Bank, Commerzbank has introduced a
new strategic approach and is focussing on selected locations in wealth
management. The sale of Privatinvest Bank was also part of the agreement
with the EU Commission regarding the utilization of the Special Fund
Financial Market Stabilization (SoFFin).

Privatinvest Bank AG, which is headquartered in Salzburg and has a branch
in Vienna, is active in private banking in the areas of wealth management
and securities trading. At the end of June 2009, it had assets under
management totalling approximately EUR 600 million and employed about 50
staff.

The activities of the Vienna branch of Commerzbank AG Frankfurt will remain
unaffected by the transaction.

Press contact:
Simone Fuchs: +49 69 136 44910

Contact:
Commerzbank AG
Group Communications
Tel.: +49 69 136 - 22830
mediarelations@commerzbank.com

27.10.2009 Financial News transmitted by DGAP

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Language: English
Company: Commerzbank AG
Kaiserplatz
60261 Frankfurt am Main
Deutschland
Phone: +49 (069) 136 20
Fax: -
E-mail: ir@commerzbank.com
Internet: www.commerzbank.de
ISIN: DE0008032004
WKN: 803200
Indices: DAX, CDAX, HDAX, PRIMEALL
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
München, Hannover, Düsseldorf, Hamburg, Stuttgart;
Terminbörse EUREX; Foreign Exchange(s) London, SWX

End of News DGAP News-Service

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