Deutsche Bank has been in the process of taking over Postbank since 2008 and has had difficulty agreeing on a settlement with Postbank shareholders.
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In the latest development of the case, Deutsche Bank said it had settled the majority of the claims with the plaintiffs and agreed to pay the former shareholders €31 per share in addition to the €25 per share originally paid to them. However, there are still some shareholders who are holding back.
Last week, Jan Mayer, a lawyer in charge of the case, described Deutsche Bank’s offer as “right from the start.” He talks about new developments commented: “Whatever was agreed… has no bearing on the decision of any other plaintiff and is therefore irrelevant going forward.”
The German banking giant’s share prices fell after settlements were rejected last week and rose 3% as it announced further deals.
On Wednesday, the bank announced that it would reduce the funds earmarked for future disbursements by 430 million euros.
In 2023, Bafin described Deutsche Bank’s handling of the Postbank case as “unacceptable”.