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Sparkasse HagenHerdecke and Lüdenscheid’s Merger


Westphalia-based Sparkasse HagenHerdecke and Sparkasse Lüdenscheid merge their trade operations this 12 months. The blended entity shall be named Sparkasse an Volme und Ruhr. “One of the most core issues of one of these merger of financial savings banks is that the criminal rules of financial savings financial institution regulation at the one hand and antitrust regulation alternatively are rarely coordinated,” mentioned Dr Thomas Thiede LLM, spouse at SPIEKER & JAEGER. “Banking regulation supplies that simplest neighbouring financial savings banks can merge – antitrust regulation, alternatively, evaluates the merger in immediately neighbouring markets fairly seriously.”

In gentle of the decrepit street connections between the 2 areas, SPIEKER & JAEGER’s Dr Achim Herbertz added: “The fiasco involving the run-down bridges can have had a good impact in any case. At the present, it’s rarely conceivable to get from Lüdenscheid to Hagen temporarily and vice versa from Hagen to Lüdenscheid. The circumstance of the immediately neighbouring markets can have had much less of an impact this manner.”

Previous this 12 months, SPIEKER & JAEGER recommended at the merger of the Dortmund and Schwerte financial savings banks, whose really extensive marketplace percentage of their respective towns merited shut scrutiny through the German Federal Cartel Place of job (‘FCO’). It used to be discovered that the financial savings banks in most cases operated within the territory in their guardian municipalities, which means that the establishments concerned weren’t fairly authentic competition. In consequence, only a few electorate of Schwerte have been if truth be told shoppers of the financial savings financial institution in Dortmund and vice versa. “There aren’t any disadvantages to the detriment of shoppers,” commented Dr Thomas Thiede.

SPIEKER & JAEGER recommended Sparkassen with a staff comprising companions Dr Thomas Thiede, Dr Achim Herbertz and Kay U Koeppen.

In regards to the Corporations


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Sparkasse an Volme und Ruhr:

“Two high-performing companions are becoming a member of forces and thus surroundings the direction for a a success long run.”

The merger of the Sparkasse HagenHerdecke and Lüdenscheid will come in combination to shape “Sparkasse an Volme und Ruhr”, from 31 August 2022.

After to begin with arriving at discussions in autumn 2021, complicated talks of the merger of the 2 financial savings banks, Hagen-Herdecke and Lüdenscheid, then started. All regulatory necessities in addition to all committee-dependent necessities were met. The criminal merger took impact retrospectively from 1 January 2022.

Day one of the vital new ‘Sparkasse an Volme und Ruhr’ corporate will start on Wednesday 31 August  2022.

The general approvals simplest arrived very not too long ago in past due August 2022; the North Rhine-Westphalia Ministry of Finance and the Arnsberg District Govt licensed the merger.

The board individuals of the 2 financial savings banks are taking a look ahead to a brand new bankruptcy. “Two high-performing companions are becoming a member of forces and thus surroundings the direction for a a success long run,” emphasized Markus Hacke, CEO of Sparkasse Lüdenscheid.

Frank Walter, CEO of Sparkasse Hagen-Herdecke, added: “In view of the demanding situations within the coming years, two financial savings banks have discovered that they supplement each and every different completely.”

The trade space of the Sparkasse extends Volme und Ruhr to these inside the municipalities of Hagen, Lüdenscheid, Herdecke, Halver, Schalksmühle and Herscheid, which in combination have a inhabitants of about 320,000. Because the marketplace chief, Sparkasse an Volme und Ruhr will serve round 155,000 non-public shoppers.




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