July 27, 2009
Commerzbank disposes of Dresdner Bank (Switzerland)
Commerzbank has sold Dresdner Bank (Switzerland) to the Liechtenstein based LGT Group. The transaction is subject to the approval of the relevant authorities. It was agreed to dislose neither purchase price nor further details.
In January 2009, in the course of the take-over of Dresdner Bank, Commerzbank also acquired a hundred percent stake in Zuerich based Dresdner Bank (Switzerland). As of December 31, 2008 Dresdner Bank (Switzerland) had 311 employees, the assets under management totalled 9.4 bn CHF.
