UniCredit buys 9% stake in Commerzbank as German government looks to offload shareholding

UniCredit has acquired a 9% equity stake in Commerzbank.
Of this, 4.49% was purchased through an accelerated book building offering for $775 million, actioned on behalf of the German Federal Republic.
The German government holds a 16.49% share in Commerzbank through the Financial Market Stabilisation Fund (FMS) since the 2008 financial crisis. The government recently announced plans to reduce its stake.
The remainder of UniCredit’s stake was acquired through market activity for an undisclosed amount.
UniCredit plans to submit regulatory filings to potentially increase its stake and collaborate with Commerzbank to explore value-creating opportunities for stakeholders.
Commerzbank emphasized that its management and supervisory board will act in the best interests of shareholders, employees, and clients.
Commerzbank CEO Manfred Knof announced he will step down at the end of his term in December 2025 and the bank will begin searching for his successor.