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SoFFin completes placement of shares in Commerzbank AG

15. May 2013

  • SoFFin has placed approx. Euro 625 million existing shares in Commerzbank AG
  • Placement price of Euro 7.00 per shares

The Financial Market Stabilization Fund (SoFFin) announces the placement of existing ex-rights shares in Commerzbank AG for an amount of approx. Euro 625 million. The transaction was conducted by Deutsche Bank, Citi, Commerzbank and HSBC, which are also joint bookrunners of Commerzbank AG’s concurrent rights issue.

The placement of the shares out of SoFFin’s existing holding results in a short-term reduction of SoFFin’s shareholding in Commerzbank AG to approx. 10%. Upon completion of the capital measure by Commerzbank AG and exercise of subscription rights by SoFFin through the contribution of part of its silent participation (approx. Euro 625 million), SoFFin’s shareholding in Commerzbank AG will increase again to approx. 17%.

SoFFin’s previous blocking minority of 25% originally served to safeguard its silent participation investment; this will be given up in the context of the full redemption of the silent participation (see press release from May 14, 2013). "Through this market-friendly transaction structure, resulting in the full repayment of the silent participation, we have achieved another milestone of exiting the Federal Republic of Germany’s investment in Commerzbank," said Dr. Christopher Pleister, Chairman of the Management Committee of the Federal Agency for Financial Market Stabilisation.
 

Information for the editorial departments:

The Federal Agency for Financial Market Stabilisation (FMSA) manages the Financial Market Stabilisation Fund (SoFFin). The fund was created on 17 October 2008 under the German Financial Market Stabilisation Act and will operate until 2014 year end under the framework of the Third Financial Markets Stabilisation Act. Since 2011 the FMSA is furthermore in charge of administration of the Restructuring Fund as well as collection of the national bank levy.

 

Not for distribution in the United States, Australia, Canada and Japan.

This communication is not an offer for sale of any securities of Commerzbank AG in the United States of America (the “United States”), in Australia, in Canada or in Japan or in any jurisdiction in which such offer is unlawful. The securities mentioned herein have already been placed with investors and have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or under the applicable securities laws of Australia, Canada or Japan. Any securities of Commerzbank AG may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act. Commerzbank AG, the SoFFin and the FMSA do not intend to register any part of the offering in the United States or to conduct a public offering of any securities in the United States. Subject to certain exceptions, the securities of Commerzbank AG referred to in this communication may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan.

This communication is only directed to (I) persons outside the United Kingdom, or (II) investment professionals who fall under Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended, (the “Financial Promotion Order”), or (III) “ high net worth companies” or other persons who fall within Article 49 (2) (a) to (d) of the Financial Promotion Order and to whom it may lawfully directed (all such persons herein “Relevant Persons”). Each person which is not a Relevant Person may not act based upon this communication nor its content nor should it rely upon them. Any investment or investment activity to which this communication relates is available only to Relevant Persons or will be engaged in only with Relevant Persons.

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