Further step in restructuring the CEE business taken
- BA-CA sells Bank BPH to UniCredit Group
- BA-CA is the hub for the CEE business
Bank Austria Creditanstalt (BA-CA) has finalised the sale of Bank BPH, its Polish subsidiary, to UniCredit Group. The closing took place on 3 November 2006. The transaction was approved by the Austrian Financial Market Authority (FMA).
The transfer of Bank BPH to UniCredit is a further step in restructuring the Group's activities in Central and Eastern Europe. As next step UniCredit will transfer to BA-CA its banking subsidiaries in the Czech Republic (Zivnostenska banka), Slovakia (UniBanka), Croatia (Zagrebacka banka), Romania (UniCredit Romania) and Bulgaria (Bulbank), as well as its equity interest in the unit in Turkey. Furthermore HypoVereinsbank (HVB) will transfer to BA-CA its activities in Russia and the Baltic countries. This will strengthen
Within the Group,