VBAG: Sale of VBI to Be Closed in 2012

Russia & CISRussia ♦ Published: December 29, 2011; 17:43 ♦ (Vindobona)

Contrary to the original schedule, the sale of the eastern European bank will not be closed by the end of the year.

VBAG: Sale of VBI to Be Closed in 2012 / Picture: © Wikipedia / MrPanyGoff

The sale of Volksbank International (VBI) to Russian Sberbank, which was contractually concluded in summer 2011, will be finalized next year. The companies are still waiting for several approvals in the region, the closing of the deal will thus be delayed further, informed persons stated on Thursday. It is now expected that the deal will be closed in the first weeks of 2012, still…