MERKUR BANK KGaA will take over substantial parts of the banking business of Bank Schilling & Co Aktiengesellschaft. A corresponding framework agreement was signed on August 13, 2019. The acquisition is to be completed in the fourth quarter of 2019. Upon consummation of the acquisition, MERKUR BANK will become one of the largest owner-managed banks in Germany, with total assets of more than EUR 2 billion.
With this transaction, MERKUR BANK is continuing its growth strategy. The branch networks as well as the business areas of the two companies complement each other. Bank Schilling has a strong private clients business with asset management and the financing of investors, as well as very successful bond trading division. All business units will be continued in the future and all existing employees will be taken over. In future, the company will operate as MERKUR PRIVATBANK.
To finance the acquisition, MERKUR BANK will, among other things, carry out a cash capital increase from authorized capital with subscription rights for the shareholders as well as a capital increase for a contribution in kind. Furthermore, the capital of the liable shareholders will be increased by around EUR 4.5 million.
MERKUR BANK is an owner-managed, listed bank with branches in Bavaria, Thuringia and Saxony, a representative office in Stuttgart and a nationwide online offering for investors. The shares of MERKUR BANK are admitted for trading on the Munich Stock Exchange in the market segment m:access and can be traded on the Frankfurt Stock Exchange in the market segment Open Market as well as on the Stuttgart and Berlin stock exchanges. In the 2018 financial year, MERKUR BANK, which is managed by Dr. Marcus Lingel as personally liable shareholder, had total assets of more than EUR 1.35 billion.
EGO HUMRICH WYEN comprehensively advised MERKUR BANK on the negotiation of the framework agreement and further transaction documentation.
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