Commerzbank Tower: Drooms Supports Sale of Germany’s Tallest Skyscraper
17. November 2016Commerzbank Tower in the heart of Frankfurt changes hands. Drooms provides online due diligence during the sale process.
Frankfurt, 17 November 2016 – At 259 metres, the Commerzbank Tower is Germany’s tallest skyscraper dominates Frankfurt’s skyline more than any other building. Commerzbank Tower, which has been the headquarters for Germany’s second-largest private bank since its completion in 1997, has now changed ownership. During the valuation, due diligence was carried out online via Drooms’ virtual data room. The Commerzbank Tower houses 45 floors of offices with room for 2,800 workstations.
Professional structuring of the virtual data room
In order to ensure that the data room was set up efficiently with all transaction-relevant documents, Drooms helped preparations by collecting (sourcing) and scanning documents as well as structuring the data room. Controlled access to sensitive data was safeguarded via detailed rights management at group and document level. All processes were documented continuously in order to meet all safety and compliance requirements. The high real-time display rate of documents in the data room ensured that the process ran smoothly and efficiently for all participants.
Drooms has already securely, transparently and efficiently handled over a thousand complex transactions such as commercial property deals, flotations and mergers and acquisitions. As the leading provider of secure cloud solutions in Europe, the total value of transactions supported by Drooms amounts to over EUR 300 billion. Over 25,000 companies around the world use Drooms. The company maintains an international presence in Zug, London, Paris, Amsterdam, Vienna and Milan.