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DZ Bank's supervisory board approves merger with WGZ Bank

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DZ Bank's supervisory board approves merger with WGZ Bank

The supervisory board of DZ Bank AG approved at an April 27 meeting themerger agreement withWGZ Bank to form ajoint cooperative central institution.

WGZ Bank's supervisory board will vote on the matter May 4. Decision-makingannual general meetings of the two banks are scheduled to take place in June,and the merged entity is expected to begin operations Aug. 1.