euro adhoc: Vienna Insurance Group
Mergers - Acquisitions - Takeovers
Vienna
Insurance Group and ERGO Versicherungsgruppe:
Wiener Städtische sells shares in Bank Austria Creditanstalt Versicherung AG
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
28.03.2008
Please note: this is a translation; only the German version of this release is legally binding
As already announced a year ago, ERGO Versicherungsgruppe and Wiener Städtische Versicherung AG Vienna Insurance Group have agreed to allow a shift in the majority stakes in favor of ERGO Versicherungsgruppe.
Wiener Städtische Versicherung AG Vienna Insurance Group now exercises its option to sell its shares in Bank Austria Creditanstalt Versicherung. This will result in a reduction of its stake to 10 percent plus one share, while the stake of ERGO Versicherungsgruppe in Bank Austria Creditanstalt Versicherung will increase to approximately 80 percent.
The transaction is subject to the necessary approvals by the authorities.
end of announcement euro adhoc
Further inquiry note:
WIENER STÄDTISCHE Versicherung AG
Vienna Insurance Group
Barbara Hagen-Grötschnig, MBA
Corporate Communications
Schottenring 30, 1010 Vienna
Tel.: +43 (0)50 350-21027
Fax: +43 (0)50 350 99-21027
E-Mail: b.hagen@staedtische.co.at
Branche: Insurance
ISIN: AT0000908504
WKN: A0ET17
Index: WBI, ATX Prime, ATX
Börsen: Prague Stock Exchange / stock market
Wiener Börse AG / official market