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Austria: VBAG Sells Malta Affiliate
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Partly nationalized VBAG (Österreichische Volksbanken AG) has sold its banking affiliate VB Malta to Maltese Mediterranean Bank (MedBank).

Representatives of VBAG and MedBank signed the contract for the complete takeover of VB Malta today, as announced by the bank in a press release. After the spin-off of the international business last year VB Malta has, according to VBAG’s own information, a balance sheet total of around € 150m and employs 28 persons. The closing of the deal is supposed to be carried out after the…
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