Österreichische Volksbanken-Aktiengesellschaft
EANS-Adhoc: Österreichische Volksbanken-Aktiengesellschaft
Strengthening of
business model through sale of Europolis, merger with Investkredit Bank AG
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
24.06.2010
Österreichische Volksbanken-Aktiengesellschaft (VBAG) and CA Immo AG have agreed on the sale of 100% of shares in the VBAG subsidiary Europolis AG to CA Immo. The Management Board and Supervisory Board of ÖVAG approved the sale in their meetings today. CA Immo AG will pay EUR 272 million for all shares in Europolis AG. Among other things, the sale is subject to the suspensive conditions of approval by the responsible authorities and the implementation of internal restructuring measures agreed within the Group.
To further streamline the Group´s structure, the Management Board and Supervisory Board of VBAG today resolved to combine the banking operations of VBAG and those of Investkredit Bank AG. Details of the combination will be analysed and drawn up in the coming weeks. Legal implementation will occur in the first half of 2011.
The implementation of these strategic options will serve to further strengthen the business model of VBAG.
Stock exchange listed issues of participation capital issued by Österreichische Volksbanken-Aktiengesellschaft:
ISIN: AT0000755665 Österreichische Volksbanken-AG Partizipationsscheine XS0359924643 EUR 500,000,000 Perpetual Non Cumulative Participation Capital Certificates (issued on a fiduciary basis by Banque de Luxembourg)
The five biggest listed issues of Österreichische Volksbanken-Aktiengesellschaft in terms of issue volume:
ISIN: XS0451759012 XS0417722393 XS0412533399 XS0271095357
AT000B053442
The issues of Österreichische Volksbanken-Aktiengesellschaft are admitted on the following stock exchanges: Regulated unofficial market of Wiener Börse AG Official trading of Wiener Börse AG EUWAX segment of Baden-Württembergische Wertpapierbörse Regulated market of Baden-Württembergische Wertpapierbörse Regulated market of the Prague Stock Exchange Regulated market of the Luxembourg Stock Exchange Open Market of Berlin Stock Exchange Open Market of Stuttgart Stock Exchange Open Market of Frankfurt Stock Exchange
end of announcement euro adhoc
Further inquiry note:
Walter Gröblinger
Tel.: +43/ (0) 50 4004-0
E-Mail: walter.groeblinger@volksbank.com
Branche: Banking
ISIN: AT0000755665
WKN:
Index: Standard Market Auction
Börsen: Prague Stock Exchange / stock market
Wien / official market