Erste Bank Fixed the Takeover of Intermarket Bank

Professional Services › Banks ♦ Published: July 28, 2011; 17:04 ♦ (Vindobona)

Erste Bank took over 56% in Austria’s largest factoring bank from the Polish subsidiary of Commerzbank and will acquire another 10% from Coface.

Erste Bank Fixed the Takeover of Intermarket Bank / Picture: © Erste Group / Helmut Lackner

The takeover of the largest Austrian factoring bank, Intermarket Bank, was fixed today (closing). Erste Bank der oesterreichischen Sparkassen AG (Erste Bank Oesterreich) acquired a stake of 56.2% in Intermarket Bank AG from the Polish BRE Bank, a subsidiary of Commerzbank. The takeover of a further 10% from the Austrian credit insurer Coface will be completed by the end of July. Erste…

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Erste Group, Banking Industry, M & A, Commerzbank, Poland, Coface, Intermarket Bank, Steiermaerkische Sparkasse, Kaerntner Sparkasse, Factoring
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