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Erste Bank is new partner of Weinviertler Sparkasse

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2009-01-03 13:42

Erste Bank der oesterreichischen Sparkassen AG acquired around 99% of Weinviertler Sparkasse AG. The remaining 1% will stay in the ownership of the private foundation “Privatstiftung Weinviertler Sparkasse”. The partners have agreed not to disclose the purchase price. This investment will strengthen Weinviertler Sparkasse, while ensuring it will not give up its well established position in the area or its focus on the regional economy. The transaction is expected to be finalized at the end of February 2009. There will be no changes for the customers and employees of Weinviertler Sparkasse.rnrnThe corresponding agreements between Weinviertler Sparkasse, “Privatstiftung Weinviertler Sparkasse”, “Sparkasse Eggenburg Privatstiftung” and Erste Bank were signed last Friday, December 12, 2008. The approval of the authorities is expected at the end of February 2009. rnrn”We have achieved a good result for Weinviertler Sparkasse and the foundation. The two private foundations will continue to exist and engage in activities that serve the public good of the region. Weinviertler Sparkasse has found a solid partner for the future in Erste Bank,” said Werner Stolarz, Member of the Management Board of the private foundation “Weinviertler Sparkasse” and Willibald Jordan, Chairman of the Management Board of “Sparkasse Eggenburg Privatstiftung”. rnrnThe takeover will not have any effect on customers or employees. Account numbers, routing codes and contact people will not change. “Weinviertler Sparkasse will continue to play its role as local service provider for private and commercial customers in the region,” said Elisabeth Bleyleben-Koren, Chairwoman of Erste Bank Oesterreich. “Having Erste Bank as a shareholder means significantly strengthening our Sparkasse in difficult times,” said Hans Jürgen Bröder, Chairman of the Management Board of Weinviertler Sparkasse AG. rnrnWeinviertler Sparkasse employs 210 people in Austria, Czech Republic and Slovakia. Ninety employees work in Lower Austria at branches serving 22,000 customers. The two leasing subsidiaries in the Czech Republic and Slovakia employ 120 people at some 30 sites.

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