LSP advises Berliner Volksbank on the acquisition of ABK Allgemeine Beamten Bank AG

LSP advised Berliner Volksbank on the acquisition of ABK Allgemeine Beamten Bank AG (ABK). The advice covered all contractual, corporate and regulatory aspects, from negotiating the purchase agreement to conducting the ownership control proceedings with BaFin and ECB to coordinating with the deposit protection scheme of the Association of German Banks (BdB) as well as conducting the merger control procedure at the Federal Cartel Office. With total assets of more than EUR 18 billion, Berliner Volksbank is one of the largest regional cooperative banks in Germany. ABK, founded in 1979 by the entrepreneur Jörg Woltmann, specialises in products and services for civil servants and the public sector. Berliner Volksbank eG intends to retain the ABK Allgemeine Beamten Bank brand and continue ABK as an independent bank within the Berliner Volksbank Group.