VBI Sale: Closing Expected for Mid-February

Business › n.a. ♦ Published: February 6, 2012; 00:02 ♦ (Vindobona)

The Russian Sberbank buys VBI from Austrian VBAG. The price totals € 505m.

VBI Sale: Closing Expected for Mid-February / Picture: © Vindobona.org

Negotiations between VBAG and Sberbank started in summer 2011 and will come to an end in February. The Romanian business has been excluded. However, since then, business still worsened, which is also due to losses in Hungary, where foreign currency loans have to be converted at unfavorable conditions.

The Vice-President of Sberbank, Sergej Gorkov confirms the sale price of €…

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