Oesterreichische Volksbanken-AG and Sberbank agree on main terms of sale of Volksbank International
Autor: Bancherul.ro 2011-07-15 15:25
Oesterreichische Volksbanken-AG today reached a commercial understanding with Sberbank on the major terms of the sale of Volksbank International. Oesterreichische Volksbanken-AG holds a 51% stake in Volksbank International. A term sheet for the transaction was signed by all shareholders of Volksbank International (VBAG, BPCE, DZ BANK und WGZ BANK) and Sberbank today in Vienna.
Both parties announce that they aim to close the deal by the end of this year. VB Romania is not part of the envisaged transaction.
Oesterreichische Volksbanken-AG today reached a commercial understanding with Sberbank on the major terms of the sale of Volksbank International. Oesterreichische Volksbanken-AG holds a 51% stake in Volksbank International. A term sheet for the transaction was signed by all shareholders of Volksbank International (VBAG, BPCE, DZ BANK und WGZ BANK) and Sberbank today in Vienna.