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Commerzbank to receive additional capital injection from SoFFin
- Alston & Bird LLP
- -
- Germany
- -
- January 9 2009
Commerzbank AG announced yesterday that it had reached an agreement with the German government's Financial Market's Stabilization Fund (SoFFin) in which SoFFin will provide an additional capital contribution of 10 billion
World Bank and Germany announce launch of Microfinance Enhancement Facility
- Alston & Bird LLP
- -
- Germany, Global
- -
- February 9 2009
Last Thursday, the World Bank and the German government jointly announced the creation of a $500 million Microfinance Enhancement Facility intended to “support microfinance institutions facing difficulties refinancing as a result of the global financial crisis and ensure that low-income borrowers in developing countries continue to have access to finance
European Commission approves HSH Nordbank recapitalization and risk shield provided by two major shareholders
- Alston & Bird LLP
- -
- European Union, Germany
- -
- May 29 2009
Today, the European Commission approved a 3 billion recapitalization and 10 billion risk shield for the Germany's HSH Nordbank (HSH), following last week's unanimous HSH shareholder approval of the 3 billion capital injection
U.K. unveils bank levy, as France and Germany express their intentions to follow suit
- Alston & Bird LLP
- -
- France, Germany, United Kingdom
- -
- June 24 2010
Yesterday, Chancellor of the Exchequer George Osborne, in his June Budget Report Statement to the House of Commons, announced the introduction of a levy on U.K. banks, including the U.K. operations of foreign banks, that is expected to generate over £2 billion per year once fully implemented
Deutsche Bank adjusts terms of Deutsche Postbank purchase
- Alston & Bird LLP
- -
- Germany
- -
- January 15 2009
Deutsche Bank AG and Deutsche Post AG have revised the terms of their contract for Deutsche Bank to purchase Deutsche Post's subsidiary, Deutsche Postbank AG
European Commission announces state aid decisions on Commerzbank and Hypo Re; Soffin announces Hypo Re tender offer results
- Alston & Bird LLP
- -
- European Union, Germany
- -
- May 8 2009
The European Commission announced today state aid decisions regarding two German financial institutions: Commerzbank and Hypo Real Estate
Germany’s Cabinet approves draft bill for “bad bank”
- Alston & Bird LLP
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- Germany
- -
- May 13 2009
The Germany’s Cabinet approved today draft legislation that would help banks remove toxic assets from their balance sheets and boost their liquidity
Hypo Re shareholders approve capital increase
- Alston & Bird LLP
- -
- Germany
- -
- June 3 2009
Yesterday, a majority of Hypo Real Estate Holding AG (Hypo) shareholders approved a capital increase of 986.5 million Hypo shares to be underwritten and purchased by Germany's state-owned Financial Market Stabilisation Fund (Sonderfonds Finanzmarktstabilisierung - SoFFin) for approximately 2.96 billion
Germany adopts second stimulus package; cabinet approves draft bank takeover bill
- Alston & Bird LLP
- -
- Germany
- -
- February 19 2009
The German Finance Minister, Peer Steinbrück, announced yesterday in a press conference that the German cabinet has approved draft legislation that would permit the nationalization of failing banks as a means of last resort
Commerzbank announces fourth quarter losses; will not pay bonuses or dividends
- Alston & Bird LLP
- -
- Germany
- -
- February 18 2009
Commerzbank AG announced today that despite running surpluses for the first three quarters of 2008, it would suffer a 378 million loss for fiscal year 2008, as a result of a 809 million consolidated loss for the fourth quarter of 2008
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