UniCredit acquires 4.5% stake in Commerzbank

The move turns UniCredit into Commerzbank’s third-largest shareholder. — Reuters

BERLIN: UniCredit SpA became a major shareholder in Commerzbank AG after buying the 4.49% stake held by the German government.

UniCredit is paying €13.20 per share for the roughly 53.1 million shares, generating proceeds of €702mil for Germany, the country’s Finance Agency said in a statement yesterday.