View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
  2. Company news
November 23, 2015updated 04 Apr 2017 1:33pm

Wiener Privatbank to buy banking operations of Valartis Bank (Austria)

Wiener Privatbank, a private bank based in Vienna, has signed contracts of sale to acquire the banking operations of Valartis Bank (Austria) for EUR13m.

By Verdict Staff

Wiener Privatbank, a private bank based in Vienna, has signed contracts of sale to acquire the banking operations of Valartis Bank (Austria) for EUR13m.

Within the framework of an asset deal, Wiener will acquire Valartis Bank’s banking operations, together with their holding in the investment company.

The deal will also include the acquisition of real estate located at Rathausstrasse 20, 1010 Vienna by a joint venture company, in which Wiener Privatbank owns a majority stake.

Subject to appropriate decisions by the relevant bodies and the required supervisory approvals, the deal is expected to close in second quarter of 2016.

Valartis Bank (Austria) is an indirect subsidiary of Valartis Finance Holding, which in turn is a wholly-owned subsidiary of the Swiss-based Valartis Group.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International