VBI Sale to Sberbank Finalized
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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…
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