FACTBOX: New terms for Deutsche Postbank takeover

(Reuters) - Deutsche Bank and Deutsche Post have agreed new conditions for the takeover of Post unit Deutsche Postbank.

The deal gives Deutsche Bank control of Postbank earlier than first planned and lets it pay for part of the takeover using its own new shares. Post gets its money quicker and can exit the banking business sooner.

Here are the main terms of the transaction, which was modified from an initial deal struck in September:

* The cash value of the transaction is 4.9 billion euros ($6.49 billion).

* As a first step, Deutsche Bank is to acquire 50 million Postbank shares -- corresponding to a stake of 22.9 percent -- in a non-cash capital increase of 1.1 billion euros that excludes subscription rights.

* As a result, Deutsche Post will acquire a stake of around 8 percent in Deutsche Bank. Deutsche Post can dispose half of this holding from the end of April. The other half may be disposed from mid-June.

* Deutsche Bank will underwrite mandatory exchangeable bonds issued by Deutsche Post. After three years, these bonds will be exchanged for 60 million Postbank shares, or a 27.4 percent stake. The cash value of the bonds at the time of the closing is anticipated to be approximately 2.7 billion euros.

* Put and call options remain in place for the remaining 26.4 million shares representing 12.1 percent of Postbank.

Deutsche Bank will pay collateral for the options amounting to the cash value of 1.1 billion euros at the time of closing. The exercise periods are now set between the 36th and 48th month after closing.

* Through the collateralization of the put option and the subscription to the mandatory exchangeable bonds, Deutsche Post gets around 3.8 billion euros in direct liquid funds, of which 3.1 billion arrived on January 2.

* The value for each tranche of the transaction may be adjusted before closing.