Hengeler Mueller advises Commerzbank as the main shareholder on first squeeze-out in a virtual annual general meeting
07. May 2020
As a requirement to merge comdirect bank Aktiengesellschaft into Commerzbank Aktiengesellschaft, the annual general meeting of comdirect bank has approved a squeeze-out merger. It is the first decision ever in a virtual annual general meeting enabling a squeeze-out without the physical presence of shareholders or their authorised representatives. At the annual general meeting 99.6 of the shareholders voted for the squeeze-out. It lasted close to six hours and was broadcasted live on the internet.
Hengeler Mueller advised Commerzbank as the main shareholder comprehensively on the squeeze-out. The team included partners Hartwin Bungert and Oliver Rieckers, counsel Matthias Cloppenburg and Petra Mennicke as well as associates Eric Becker and Christopher Lutz (all Corporate, Düsseldorf).
Responsible for this transaction within Commerzbank’s in-house legal department were Christian Wagner, Christoph Trapp and Bernd Singhof.