ÖVAG: Sales Process of East-holding is Under Way

Business › n.a. ♦ Published: December 30, 2010; 00:14 ♦ (Vindobona)

For the coming year, the Austrian Voksbanken are planning to restructure the Group. A buyer is currently being sought for the East-holding.

ÖVAG: Sales Process of East-holding is Under Way / Picture: © Österreichische Volksbanken-AG (ÖVAG)

ÖVAG finds itself in a consolidation phase. The restructuring of the group has already been decided, as well as the sale of VBI (Voksbank International), a holding company for investments in nine eastern European countries. Total assets stand at € 14bn, the book value is given as € 1.25bn. About € 2.0 bn are expected as sales price.

Besides the Russian Sberbank, a Chinese…

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