New Ownership for Oldenburgische Landesbank AG

Oldenburgische Landesbank AG (OLB) is set to change hands, with its entire share capital being acquired by TARGO Deutschland GmbH, a subsidiary of Crédit Mutuel Alliance Fédérale. This acquisition comes following an agreement between OLB's shareholders and Crédit Mutuel Alliance Fédérale, a major French cooperative bank and the ninth largest in the Eurozone by total assets.

The transaction, pending customary regulatory and antitrust approvals, will lead to strengthened financing capabilities for OLB's future growth, courtesy of the strong market positioning of Crédit Mutuel Alliance Fédérale. Consequently, OLB has decided to halt any plans for an initial public offering (IPO).

The commitment of Crédit Mutuel and its subsidiary to OLB's strategic vision and business model played a pivotal role in this decision. This marks a significant step in the expansion of Crédit Mutuel's presence in the German market through TARGO Deutschland.