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DGAP-Adhoc Board of Managing Directors of DVB Bank SE resolves on intention to merge into DZ BANK AG in 2022

Nachrichtenquelle: EQS Group AG
01.04.2021, 15:53  |  117   |   |   

DGAP-Ad-hoc: DVB Bank SE / Key word(s): Strategic Company Decision
Board of Managing Directors of DVB Bank SE resolves on intention to merge into DZ BANK AG in 2022

01-Apr-2021 / 15:53 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Frankfurt/Main, 1 April 2021 - The Board of Managing Directors of DVB Bank SE (DVB) has resolved today in principle on its intention to merge into its sole shareholder, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (DZ BANK), by means of an up-stream merger in 2022.

DVB has made significant progress in its amortisation business strategy and restructuring initiatives in recent years, resulting in over €20 billion portfolio reduction, simplification of the organisation and sizeable reduction in cost base. An integration of the remaining portfolio and operating infrastructure into DZ BANK is considered by DVB's Board of Managing Directors to be the best approach to preserve value and realise synergies.

A detailed integration plan and migration approach will be developed over the coming months. The transaction is subject to consultation and final decision-making processes with respective corporate bodies and key stakeholders prior to implementation.

Contact for this ad-hoc disclosure:
Melvyn Jones
Head of Corporate Communications
Managing Director
Phone: +44 207 2564 418
E-mail: melvyn.jones@dvbbank.com


01-Apr-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: DVB Bank SE
Platz der Republik 6
60325 Frankfurt am Main
Germany
Phone: 069-97504-435
Fax: 069-97504-972
E-mail: info@dvbbank.com
Internet: www.dvbbank.com
ISIN: XS1433231377
WKN: A2BPTD
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1180437

 
End of Announcement DGAP News Service

1180437  01-Apr-2021 CET/CEST

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DGAP-Adhoc Board of Managing Directors of DVB Bank SE resolves on intention to merge into DZ BANK AG in 2022 DGAP-Ad-hoc: DVB Bank SE / Key word(s): Strategic Company Decision Board of Managing Directors of DVB Bank SE resolves on intention to merge into DZ BANK AG in 2022 01-Apr-2021 / 15:53 CET/CEST Disclosure of an inside information acc. to Article 17 …

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