ÖVAG to be Split

Professional Services › Banks ♦ Published: April 16, 2011; 07:11 ♦ (Vindobona)

Resolution to transfer the banking business of Österreichische Volksbanken-Aktiengesellschaft (ÖVAG) to Investkredit Bank AG by way of de-merger planned for 19 May 2011.

ÖVAG to be Split / Picture: © Österreichische Volksbanken-AG (ÖVAG)

Resolution to transfer the banking business of Österreichische Volksbanken-Aktiengesellschaft (ÖVAG) to Investkredit Bank AG by way of de-merger planned for 19 May 2011. Core shareholders of ÖVAG intend to acquire € 300m of participation capital held by the Republic.

It is planned that in the General Assembly on 19 May 2011 a resolution will be passed on the transfer of…

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