CMS advised the two savings banks on all merger and competition law aspects of the amalgamation.
District savings bank Kreissparkasse Kaiserslautern is merging with its municipal counterpart Stadtsparkasse Kaiserslautern. This involves Stadtsparkasse Kaiserslautern being absorbed into Kreissparkasse Kaiserslautern at the end of the year. The regional banking institution will then operate as Sparkasse Kaiserslautern with effect from 2021. With total assets of around EUR 5 billion, Sparkasse Kaiserslautern will be one of the biggest savings banks in the federal state of Rhineland-Palatinate, according to the bank’s own figures. The institution will remain based in Kaiserslautern.
CMS team included Dr Harald Kahlenberg (Picture), Lead Partner, Angelika Wieczorkowski, Senior Associate and Dr Anne Gabius, Senior Associate, all Competition & EU.
Law Firms: CMS Hasche Sigle;