Deutsche Bank has been in the process of acquiring Postbank since 2008, and has been facing trouble agreeing to a settlement with Postbank shareholders.
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In the latest development of the case, Deutsche Bank stated that it had settled majority of the claims with plaintiffs, agreeing to pay former shareholders €31 on top of €25 paid to them originally per share. However, there still are some shareholders holding out.
Last week, a lawyer on the case, Jan Mayer, called Deutsche Bank’s offer “dead on arrival”. On new developments he commented: “Whatever was agreed … has no effect on any other claimant’s decision, so it is irrelevant going forward.”
The German banking giant’s share prices dropped after settlements were denied last week, and rose 3% when the they announced further agreements.
On Wednesday, the bank stated that it will reduce the funds set aside for future payouts by €430 million.
In 2023, Bafin called Deutsche Bank’s handling of the Postbank case “unacceptable”.
