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What happened to Dresdner Bank?
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Dresdner Bank AG was a German bank, founded in 1872 in Dresden, then headquartered in Berlin from 1884 to 1945 and in Frankfurt from 1963 onwards after a postwar hiatus. Long Germany's second-largest bank behind Deutsche Bank, it was eventually acquired by Commerzbank in May 2009.
Sep 1, 2008 · Allianz has agreed to sell Dresdner Bank to Commerzbank in a deal that will re-shape the German banking industry. Allianz’s supervisory board approved the sale of Dresdner after meeting on Sunday.
In 2001 Dresdner was acquired by Allianz AG, a global insurance provider that saw the takeover as a way of bolstering its financial management arm. Both Dresdner and Allianz have suffered since this merger because of problems with Dresdner's investment bank business, Dresdner Kleinwort Wasserstein. The Early Years.
Sep 2, 2008 · But the Frankfurt-based bank, with its risk-taking culture at Dresdner Kleinwort, sat unhappily within the Munich-based, risk-averse insurance company. Results were judged poor.
By mid-year, a merger of Commerzbank and Dresdner Bank was likely. In particular, Allianz, as the largest shareholder of Dresdner Bank, expected new momentum for its business from such a merger. After months of negotiations, the parties finally announced Commerzbank's takeover of Dresdner Bank.
Nov 28, 2008 · Commerzbank has accelerated the takeover of rival Dresdner Bank in return for a bigger cash payment to Allianz, the owner. The revised deal reduces the equity stake that Allianz was due to...
Jul 11, 2008 · Lloyds TSB Group PLC, Britain's largest provider of chequing accounts, plans to abandon talks aimed at a possible takeover of Allianz SE's Dresdner Bank or Deutsche Postbank AG, two people ...
