UniCredit is proceeding with the acquisition of Commerzbank after more than two years of negotiations, but the operation brings with it a complex heritage of Russia-related problems. The process involves litigation, court convictions and assets trapped in Moscow that now become part of the Italian bank.
The Russian heritage includes a five-story building with a pastel pink façade, located in the heart of Moscow, which for years was the former headquarters of Commerzbank's operations in Russia and the rest of Eurasia. This property represents one of the currently blocked assets.
In spring 2024, a St. Petersburg court decided to freeze the assets and shares of Commerzbank's Russian subsidiary. This judicial decision is part of a ruling amounting to almost 100 million euros, which further complicates the financial and legal situation of the acquisition by UniCredit.
