from Oldenburgische Landesbank AG (isin : DE0008086000)
EQS-Adhoc: Oldenburgische Landesbank AG: OLB will have new owner with TARGO Deutschland GmbH, a 100% subsidiary of Crédit Mutuel Alliance Fédérale
EQS-Ad-hoc: Oldenburgische Landesbank AG / Key word(s): Mergers & Acquisitions
Oldenburgische Landesbank AG: OLB will have new owner with TARGO Deutschland GmbH, a 100% subsidiary of Crédit Mutuel Alliance Fédérale
20-March-2025 / 00:56 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this announcement.
The Shareholders of Oldenburgische Landesbank AG (“OLB”) have reached an agreement to sell the entire share capital of OLB to TARGO Deutschland GmbH, a 100% subsidiary of Crédit Mutuel Alliance Fédérale, which is a leading French cooperative bank, the ninth largest bank in Eurozone in terms of total assets. The completion of the acquisition is subject to the customary closing conditions including regulatory and antitrust approvals. Crédit Mutuel Alliance Fédérale agreed that the acquisition will be carried out through its German subsidiary TARGO Deutschland GmbH, which manages Crédit Mutuel Alliance Fédérales activities in the German market.
Crédit Mutuel Alliance Fédérale and TARGO Deutschland GmbH are fully committed to the strategic vision and success of OLB's business model. In the view of OLB's management, the acquisition will enhance OLB's ability to finance its future growth as a result of Crédit Mutuel Alliance Fédérale's strong ratings and capital markets access. With today's decision in favor of a sale of OLB, the shareholders of OLB have decided to discontinue actions to conduct an IPO of OLB.
Contact:
Sandra Büschken
Head of Corporate Communications & Investor Relations
Oldenburgische Landesbank AG
Tel.: +49 69 756193 36
Email: ccir@olb.de
End of Inside Information
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