VBI Sale to Sberbank Finalized

Businessn.a. ♦ Published: February 15, 2012; 18:03 ♦ (Vindobona)

With the sale of the CEE segment of the Austrian VBAG, Russian Sberbank enters Eastern Europe.

VBI Sale to Sberbank Finalized / Picture: © Vindobona.org

OAO Sberbank, Russia’s biggest lender, acquired Volksbanken International AG at a reduced price after VBI shareholders injected additional equity to compensate for losses after the deal was agreed.

Sberbank bought VBI for € 505m ($ 661m) from Oesterreichische Volksbanken AG, DZ Bank AG, WGZ Bank AG and Groupe BCPE after signing the deal on Sept. 8, the Moscow- based bank said…