Frankfurt am Main, 21 October 2026 - A&O Shearman has advised BRED Banque Populaire (BRED Group), one of France's largest cooperative banks and part of Groupe BPCE, on the signing of an agreement to acquire the international and corporate banking activities of ODDO BHF in Germany. A cross-practice team of A&O Shearman experts advised BRED Group comprehensively on all legal aspects of the transaction, in particular in the areas of M&A, banking and banking supervisory law, tax law, employment and pensions law, and antitrust law.

With this strategic transaction, BRED Group is further expanding its presence in the German market and laying the foundation for the long-term development of its business in Germany. By acquiring ODDO BHF's established business activities, which are deeply rooted in the German market, BRED Group is strengthening its position in cross-border banking. The acquisition therefore marks an important milestone in BRED Group's international growth strategy.

Completion of the transaction remains subject to the customary regulatory approvals and other closing conditions.

In substance, Dr. Matthias Horn, Partner and Head of the German Financial Institutions Sector Group at A&O Shearman, said (quote rendered in translation): the transaction underlines the continued interest of international financial institutions in the German market and creates a strong platform for BRED Group's further growth in Germany. The firm was pleased to have supported BRED Group in this strategically important step; the mandate once again demonstrates its extensive experience in complex M&A transactions in the financial sector and its ability to support international banks in their cross-border growth and expansion plans.

On the side of BRED Group, the transaction was advised in-house by Gilles Parone, General Secretary, and Samira Hardy, Legal Manager M&A.

BRED Banque Populaire is a French cooperative bank and part of Groupe BPCE, the second-largest banking group in France and the fourth-largest in the eurozone by equity. BRED Group serves 1.7 million customers and has more than 240,000 cooperative members. It has consolidated equity of 7.7 billion euros and employs around 7,300 people. BRED Group serves companies and financial institutions in France and worldwide, in particular in their cross-border business activities. BRED Group is headquartered in France and is represented in the Île-de-France region, in Normandy and in the French overseas territories. Internationally, it is also active in Europe, South-East Asia, the South Pacific and Africa. In the 2025 financial year, BRED Group generated consolidated net banking income of 1.727 billion euros and net income attributable to the group of 423.4 million euros.

Advisors to BRED Group: A&O Shearman
Dr. Matthias Horn (Partner, Leitung), Dr. Matthias Taggeselle (Senior Associate, beide Frankfurt), Daniel Wendler (Senior Associate, Hamburg, alle Corporate/M&A); Dr. Heike Weber (Partnerin, Steuerrecht), Dr. Alexander Behrens (Partner, Financial Services Regulatory, beide Frankfurt); Senior Associates: Dr. Benn Berger (Steuerrecht, Hamburg), Niklas Germayer (Financial Services Regulatory), Dr. Sven Gunkel (Pensions), Anne Pelzer (Arbeitsrecht), Tom Haeseler (Bank- und Finanzrecht, alle Frankfurt), Dr. Kathrin Haag (Kartellrecht, Hamburg)
In-house BRED Group: Gilles Parone (General Secretary), Samira Hardy (Legal Manager M&A)

This text was automatically translated from the German original.