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Volksbanken Group Takes Back Restructuring Decisions

Published: December 1, 2011; 12:48 · (Vindobona)

The Austrian group cancelled the planned spin-off of its banking operations due to the deterioration of the market environment.

Volksbanken Group Takes Back Restructuring Decisions / Picture: © Wikipedia / MrPanyGoff

In Wednesday’s extraordinary general assembly meetings of Oesterreichische Volksbanken-AG (VBAG) and Investkredit Bank AG, the resolutions passed in the general assembly meetings on 19 May 2011 regarding the spin-off of VBAG´s banking operations to Investkredit, were revoked. Due to the deterioration of the market environment for banks and the resulting effects on the planned…

This article includes a total of 199 words.

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