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Österreichische Volksbanken AG / Reorganisation of the Association of Volksbanks
Press Wire ♦
Published: October 2, 2014; 10:27 ♦ (Vindobona)
The Executive Board of Österreichische Volksbanken-AG (VBAG) decided in principle today to restructure VBAG. Those assets and tasks that are currently allocated to VBAG's non-core business areas are to be fully liquidated. Assets and service units belonging to the core business, together with all tasks undertaken by VBAG in its capacity as the central organisation of the Association of Volksbanks, are to be merged into a new top Institution of the Association.
Österreichische Volksbanken AG / Reorganisation of the Association of Volksbanks / Picture: © Vindobona.org
adhoc disclosure transmitted by euro adhoc with the aim of a Europewide distribution. The issuer is solely responsible for the content of this announcement.
other
02.10.2014
Subtitle: Splitting up VBAG will ensure the future of Volksbanks under new
structures and will avoid any further burden on taxpayers
The Executive Board of Österreichische…
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