Deutsche Postbank AG has acquired a share package in BHW Holding AG from the ERGO Insurance Group. Postbank now holds 9.2% of shares in the company. The Bonn-based bank announced this on Monday as part of its Accounting Press Conference.

Prof. Wulf von Schimmelmann, Chairman of the Postbank Management Board commented, “For Postbank, this share purchase does not give an indication as to whether it will make an offer for BHW in the announced sales process. A potential acquisition would require not only agreement with the major BHW shareholders but also a solution in respect to AHBR in whose acquisition we have no interest. In all earlier acquisition processes we have demonstrated that we are very price conscious. If at all, an acceptable price for the majority in BHW can only be determined after an intensive examination of the company.”

 With more than 12 million clients, Postbank is the largest retail bank in Germany. With its unique multi-channel distribution, it is available to its customers in approximately 9,000 branches. 1.9 million customers access the bank online, 3 million by telephone. In addition, with home loans they work with 5,500 third-party agents under the DSL Bank brand. Postbank Vermögensberatung AG offers its customers insurance, unit trusts and pension products using the best select approach. With its “funds supermarket”, Postbank Easytrade offers a wide range of investment funds. Over the next few weeks, ERGO insurance products and MEAG funds will be added to the product range.