business
Tuesday 07 July 2015
The German bank is driving the sales process at Postbank. Their shareholders see themselves exposed to a forced settlement. First, Postbank will leave the market. Not later than the end of 2016 it will be sold through a public offering.
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The German bank can cost 245 million euros, the compensation of the remaining shareholders of Postbank. The German Postbank announced that its majority shareholder have set the compulsory severance to 35.05 euros per share. That’s less than the 36.40 euros, for the Postbank paper traded on the stock exchange on Tuesday.
The German bank announced in April to take the daughter of the Postbank stock exchange before will be sold no later than the end of 2016 through a public offering. The new chief executive John Cryan had announced their intention to implement the step as quickly as possible.
Read more aboutThere are still seven million Postbank shares in free float. Many investors speculate on a higher compensation, if necessary through a judicial review proceedings for years. That was the price driven up, so that Postbank on the stock market almost eight billion euros worth calculation. Experts believe that they would be assessed realistically about the half when returning to the stock market.
The costs associated with the acquisition of 14 million customers strong bank hopes had not been fulfilled. For the refinancing of the Deutsche Bank, the savings deposits of Postbank hardly played a role. Less German bank products were to Postbank customers sell them as intended. Moreover swelled the mortgage and housing loans of Postbank and its BHW the balance sheet of Deutsche Bank.
Source: n-tv.de
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