UniCredit 获得欧洲中央银行批准，提升其对德国商业银行（Commerzbank AG）的持股比例，为首席执行官安德烈亚·奥塞尔（Andrea Orcel）掌控该德国贷款机构铺平了道路。
SpA won approval from the European Central Bank for its increased Commerzbank AG stake, paving the way for Chief Executive Officer Andrea Orcel to take control of the German lender.
欧洲中央银行的绿灯意味着意大利银行可以将其持股比例提升至30%以上，并可能持有商业银行多达100%的股份，该银行周四在一份声明中表示。
The green light from the ECB means the Italian bank can raise its stake above 30% and potentially hold as much as 100% of Commerzbank, the bank said in a statement on Thursday.
“此决定代表了UniCredit收购商业银行的重要里程碑，凸显了欧洲中央银行对该交易的积极评估，以及对UniCredit稳健基本面和其在欧洲银行业强势地位的信心，”UniCredit表示。
“The decision represents an important milestone in UniCredit’s acquisition of Commerzbank, underscoring the ECB’s positive assessment of the transaction and the confidence in UniCredit’s solid fundamentals and strong standing within the European banking sector,” UniCredit said.
这也是奥塞尔的又一次胜利，他自2024年9月起一直公开追求商业银行，尽管面临德国政府和该贷款机构管理层的公开反对。收购一家估值约为420亿欧元（470亿美元）的公司，将成为过去二十年来全球规模最大的银行交易之一。
It’s another win for Orcel, who has been pursuing Commerzbank publicly since September 2024, despite vocal opposition from the German government and the lender’s management. The acquisition of a firm valued at about €42 billion ($47 billion) would be among the largest banking deals globally in two decades.
监管机构的批准虽然广为预期，但曾是阻止UniCredit获得今年早些时候通过收购要约所要价的商业银行股份所有权的最重要监管障碍之一。一旦剩余的少数批准也到位，奥塞尔将实际控制商业银行近50%的表决权，从而在股东大会上获得实际多数，并能够至少实施其对德国贷款机构的一些深远计划。
The supervisor’s nod, while widely expected, was one of the most significant regulatory hurdles preventing UniCredit from taking ownership of the Commerzbank shares tendered to it in a takeover offer earlier this year. Once the few remaining approvals have come in as well, Orcel will control almost 50% of Commerzbank’s voting rights, effectively giving him an majority at shareholder meetings and the ability to implement at least some of his far-reaching plans for the German lender.
作为该计划的一部分，奥塞尔表示他将寻求替换商业银行监事会的大部分成员，随后替换包括首席执行官贝蒂娜·奥尔洛普（Bettina Orlopp）在内的高层管理团队。知情人士表示，他已经在寻找潜在候选人以接替她的职务。
As part of that plan, Orcel has indicated he’ll seek to replace swathes of Commerzbank’s supervisory board and subsequently the top management including CEO Bettina Orlopp. He’s already looking for potential candidates to succeed her, people familiar with the matter have said.
UniCredit仍需获得欧盟反垄断当局、美国联邦储备局以及相关波兰监管机构的批准。商业银行在波兰拥有一家名为mBank的大型子公司。
UniCredit still needs approvals from European Union antitrust authorities, the US Federal Reserve and the relevant Polish regulator. Commerzbank has a large subsidiary named mBank in Poland.
奥尔洛普周三在接受彭博电视台采访时表示，其他各项监管批准预计将在“今年或最迟明年年初”完成。被问及她在商业银行的未来时，她表示她的合同将持续到2029年，她将尽可能长时间地履行合同，前提是她能够获得监管会的支持并就战略达成一致。
Orlopp said in a Bloomberg TV interview on Wednesday that the various other regulatory approvals are expected to happen “either this year or beginning of next year latest.”Asked about her future at Commerzbank, she said her contract runs until 2029 and she will seek to serve it out for as long as she’s got backing from the supervisory board and agreement on strategy.
控制商业银行也可能意味着，ECB将把该贷款机构视为意大利联合信贷银行的子公司，以进行监管，这一举措将导致意大利银行面临更高的资本要求。奥尔洛普在采访中表示，会计“合并”将在“2026年全年或2027年第一季度”进行。意大利贷款机构一直就商业银行的未来与德国政府进行谈判，后者持有该贷款机构约13%的股份。熟悉情况的人士表示，柏林期望获得关于保留该银行股票市场上市及其法兰克福总部的承诺，以及关于就业和中小企业业务的保证。
Taking control of Commerzbank will probably also mean that the ECB will count the lender as a subsidiary of UniCredit for supervisory purposes, a move that will lead to higher capital requirements for the Italian bank. Orlopp said in the interview that accounting “consolidation” will take place “for the full year 2026 or for the first quarter of 2027.”The Italian lender has held talks about Commerzbank’s future with the German government, which owns about 13% of the lender. Berlin expects commitments on preserving the bank’s stock-market listing and its Frankfurt base, as well as guarantees on jobs and the business with small and mid-sized companies, other people familiar with the matter have said.