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Sale of Volksbank International Finalized
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The Eastern European subsidiary will be sold for a price ranging from € 585m to € 645m depending on business performance in 2011.

Today, the owners of Volksbank International AG (VBI) and representatives of Sberbank of Russia successfully completed negotiations on the sale of VBI group. 51% of VBI was held by Oesterreichische Volksbanken-AG (VBAG), with the remaining two shareholders, the German banking group DZ BANK AG / WGZ BANK AG and the French BPCE S.A. each holding a further 24.5%. Sberbank will acquire 100%…
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