A deal to reshape the German banking industry with the sale of Dresdner Bank to Commerzbank for about €9bn ($13bn) appeared imminent on Thursday when the target’s parent, Allianz, and the likely buyer both said they would hold extraordinary meetings on Sunday to try to seal a deal.

Allianz, Europe’s biggest insurance group, confirmed it would bring together its supervisory board to discuss the sale of Dresdner and also halted plans to split up the bank prior to a sale.