French bank BNP Paribas announced Friday it has reached an agreement to acquire Germany-based online brokerage firm DAB Bank.
According to reports, BNP Paribas will acquire more than 80 percent of DAB for about $475 million. The buyout, the French bank said, is part of efforts to expand its digital banking operations across Europe.
According to BNP Paribas, the takeover will nearly double the number of its German clients.
The bank announced that it has already reached a deal to acquire the assets from the management board of UniCredit Bank. UniCredit Bank’s supervisory board will need to approve the deal, as will the appropriate regulatory authorities.
Full content: Banking Business Review
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI