comdirect bank AG
comdirect bank AG: Acquisition of OnVista AG concluded
DGAP-News: comdirect bank AG / Key word(s): Merger comdirect bank AG: Acquisition of OnVista AG concluded
Quickborn, Germany, 3 April 2017. Following approval from the banking supervisory and antitrust authorities, comdirect bank AG has today concluded the full acquisition of OnVista AG from Boursorama S.A., as announced in December 2016. OnVista AG includes online broker OnVista Bank GmbH and OnVista Media GmbH, which operates the www.onvista.de financial portal. “The purchase of OnVista AG is a growth acquisition,” says Arno Walter, CEO of comdirect bank AG. “The acquisition lays a good foundation for additional growth and also strengthens our position as the market leader in Germany for brokerage in terms of trade figures.” The merger of OnVista Bank GmbH into comdirect bank AG in the second quarter is the next planned step. The aim is to simplify the structure under corporate law as well as the associated regulatory reporting system. “The merger is above all a formal action. OnVista Bank will be managed in future as a division of comdirect. This means we require only one bank licence instead of two,” explains comdirect bank AG CFO Dietmar von Blücher. The merger has no immediate effect for the customers of OnVista Bank. The name OnVista Bank will be kept on, IBANs and access data will remain the same, and the pricing policies are to be maintained. Just like comdirect, OnVista Bank GmbH continues to grow, having increased its total assets under management as of the end of 2016 to around EUR2.5bn and its number of customers to around 98 thousand. The merger will lay the foundation for the successful further development and continued profitable growth of the comdirect group. This is expected to lead to additional pre-tax profit of around EUR10m per year from 2019. With its financial portal www.onvista.de, OnVista Media GmbH is to remain a wholly-owned subsidiary of comdirect bank. According to Walter, “onvista.de is not only a well-known name among securities customers, the portal is one of the most successful financial platforms on the market. We intend to keep it that way.” Contacts for this press release Information for editorial teams
03.04.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | comdirect bank AG |
Pascalkehre 15 | |
25451 Quickborn | |
Germany | |
Phone: | + 49 (0) 4106/704-0 |
Fax: | + 49 (0) 4106/708-2580 |
E-mail: | info@comdirect.de |
Internet: | www.comdirect.de |
ISIN: | DE0005428007 |
WKN: | 542800 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |