Business - n.a.

VBI Sale: Closing Expected for Mid-February

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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VBI Sale: Closing Expected for Mid-February

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

Join us to succeed in Vienna!
Sign up to read articles for free and to get personalized updates on the events that interest you.