OLB to be Acquired by Crédit Mutuel Alliance Fédérale

Oldenburgische Landesbank AG (OLB) will be acquired by TARGO Deutschland GmbH, a subsidiary of Crédit Mutuel Alliance Fédérale. This acquisition positions OLB to enhance its market presence in Germany. Upon completion, the consolidated entity is set to become the tenth largest bank in Germany by assets, offering a robust service range in both corporate and retail banking.

The transaction, pending regulatory approval, has changed OLB's strategic direction, halting its IPO plans. This shift is expected to bolster OLB's future growth, benefiting from Crédit Mutuel Alliance Fédérale's access to capital markets and solid credit rating. Germany remains a strategic area for expansion for Crédit Mutuel Alliance Fédérale, and OLB's high profitability is crucial for accelerating this growth.