Volksbanken Group to Sell Stake in RZB

Business › n.a. ♦ Published: June 28, 2011; 11:55 ♦ (Vindobona)

Österreichische Volksbanken-AG Group (VBAG) will sell its shares in Raiffeisen Zentralbank for almost € 500m. The redemption of state capital and the sale of VBI have been delayed.

Volksbanken Group to Sell Stake in RZB / Picture: © Österreichische Volksbanken-AG (ÖVAG)

The end of the first half of the year is close. VBAG had originally planned to complete the sale of Volksbanken International (VBI), the group’s subsidiary in nine CEE countries. Furthermore, CEO Gerald Wenzel intended to pay back the first tranche of participation capital in early July. Redemption by the end of the year is required by law. Otherwise, the state will have the right to…

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