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12 December 2008

Asters Consults in Creating a Powerful Assurbanking Business


Asters has acted as a legal counsel to Allianz (headquartered in Munich, Germany), the international group of companies active in insurance, banking, asset management and other financial, consulting, and similar services, regarding obtaining merger clearances of the Antimonopoly Committee of Ukraine (AMC) required for the sale of Dresdner Bank AG (Dresdner Bank) to COMMERZBANK AG (Commerzbank), Germany's second-largest bank and one of the leading banks in Europe, and other related transactions.

The transaction will be realized in two steps and is expected to be completed in 2009.

As a result of the transaction Commerzbank and Dresdner Bank will together have the most powerful sales organization in the German banking sector and will strengthen its leading position as investment bank for German companies. It will also offer Allianz' insurance products through an exclusive sales agreement. With the acquisition, as part of the agreement, of Cominvest, asset management entity of Commerzbank, Allianz will strengthen its market position in asset management segment and will become Germany's largest asset manager with more than 300 billion euros assets under management.

The filing with the AMC was handled by associates Tetiana Vovk, Oleh Furmanchuk, and Iryna Tertytsia under the supervision of partner Igor Svechkar.



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