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CMS advises DZ BANK on structuring and implementing a scrip dividend offered by Baader Bank


Frankfurt/Main – Baader Bank Aktiengesellschaft (“Baader Bank”), a company listed on the Regulated Unofficial Market (Freiverkehr), has for the first time offered its shareholders the option of receiving the dividend in cash or as shares in the company (referred to as a stock dividend or scrip dividend). Both treasury shares and new shares from a capital increase were used for this purpose. The acceptance rate for the scrip dividend was 67.1%.

A CMS team headed by lead partner Dr Andreas Zanner advised the bank handling the transaction, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, on all legal aspects of structuring, implementing and settling the scrip dividend. The Frankfurt-based bank has relied on the expertise of CMS lawyers on a regular basis for many years. CMS has long held a market-leading position in providing legal advice on scrip dividends and how to structure them.

Baader Bank is a family-managed full-service bank based in Unterschleißheim near Munich. It engages in Market Making, Capital Markets, Multi Asset Brokerage, Asset Management Services, Banking Services and Research.

CMS Germany

Dr Andreas Zanner, Lead and Client Relationship Partner, Frankfurt/Main, Corporate Law
Patrick Damanik, Senior Associate, Frankfurt/Main, Banking & Finance
Dr Richard Mayer-Uellner, Partner, Cologne, Corporate Law

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Dr. Andreas Zanner
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Patrick Damanik, LL.M.
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