Bremer Kreditbank (BKB) has successfully completed a capital increase with an issue volume of EUR 300 million. The Annual General Meeting of BKB had already approved the capital increase on 24 May 2017. International law firm Clifford Chance advised BKB on this transaction.

The capital increase was implemented to finance the acquisition of 90.2 percent of the shares in Oldenburgische Landesbank (OLB). In June 2017, BKB acquired OLB, one of the largest regional banks in the country. The seller was Allianz Deutschland AG. At the same time, BKB had submitted a takeover bid to the shareholders of OLB.

The Clifford Chance team advising Bremer Kreditbank on the capital increase included corporate law specialists Christian Vogel (partner) (Düsseldorf) and Thomas Krecek (partner) (Frankfurt) as well as Maria Luisa Köhler (associate) (Düsseldorf) and Moritz Petersen (associate) (Frankfurt).

Inhouse at Bremer Kreditbank, Steffen Fiedler and Andrés Mönnich provided legal advice to the transaction.