Stuttgart, 19.06.2024 – The Sparkasse Münsterland Ost and Sparkasse Beckum-Wadersloh savings banks are set to merge with effect from 1 August 2024. The merger will create a single joint Sparkasse savings bank serving the city of Münster and the adjacent Warendorf district. This addition of around EUR 14 billion to its balance sheet will make Sparkasse Münsterland Ost one of the 20 largest of the around 350 Sparkasse savings banks in Germany. Merging the two savings banks is aimed at pooling their strengths and better meeting the needs of customers, the supervisory authorities and local government owners in a constantly changing financial environment. The link-up has already been approved by the relevant department of the North Rhine-Westphalian Ministry of Finance, and merger control approval has been granted by the Federal Cartel Office (BKartA).
A CMS team headed by lead partner Dr Harald Kahlenberg advised Sparkasse Münsterland Ost and Sparkasse Beckum-Wadersloh on all merger control aspects of the merger and on obtaining approval from the Federal Cartel Office. Dr Harald Kahlenberg and his team have been advising on savings bank mergers for many years. A number of specific questions arise from a merger control perspective, particularly in relation to the “regional principle”, which restricts the operations of savings banks to a specific area. Consolidation among savings banks has been ongoing for some years now and is likely to accelerate against a backdrop of digital transformation pressures and a significant skills shortage. Further mergers among savings banks are therefore to be expected.
CMS Germany
Dr Harald Kahlenberg, Lead Partner
Dr Anne Gabius, Senior Associate
Angelika Wieczorkowski, Senior Associate, all Antitrust, Competition & Trade
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