According to the financial services provider, more than 70 per cent of Postbank shareholders agreed to accept the bid from Deutsche.
The acceptance provided the firm with 21.48 per cent of the firmâs shares, which combined with its previous stake of 29.95 per cent, gives it a majority share.
Josef Ackermann, chairman of the management board of Deutsche Bank, said: âWe are pleased that the majority of holders of Postbank shares in free float have accepted our takeover offer. Deutsche Bank and Postbank will now intensify the cooperation.
âWe will consolidate Postbank by the end of this year as planned. In the future, Deutsche Bank Group will have more stable revenues and a more balanced earnings mix.â
Deutsche Bank received 47 million shares at â¬25 per share as part of its bid.
Rainer Neske, member of Deutsche Bank's Management Board and head of Private & Business Clients, added: âTogether with Postbank we will be the leader in Germanyâs retail banking business and build on a leading position in Europe.â
Shareholders are expected to receive payment from Deutsche during the first week of December.
By Jim Ottewill