A first of its kind bank merger has seen Deutsche Bank use
the cross-border merger directive to convert its Portuguese and
Hungarian subsidiaries into branches of the German parent
This is the first banking and finance cross-border merger in
Europe, and also the first transaction under Directive
2005/56/CE on cross-border mergers of limited liability
The merger filings are a sign of progress towards a united
states of Europe, according to Pedro Cassiano Santos of
Portuguese firm Vieira de Almeida (despite the eurozone
There may have been similar situations between a
Delaware company and a Californian company, but this is the
first evidence that its possible between a Portuguese and
a German company, operating as banks he said.
Before the pilot deals, which closed November 30, European
companies traditionally merged by...