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09.01.2006

BA-CA to acquire Russian IMB

  • BA-CA will also receive operating units in Estonia, Latvia and Lithuania
  • HVB passes a resolution on the transfer of BA-CA shares to UniCredit

Bank Austria Creditanstalt (BA-CA) will take over the majority interest in International Moscow Bank (IMB). With total assets of about US$ 7.7 billion, IMB is the ninth-largest Russian bank. Today the Management Board of HVB has stated that the actions brought by minority shareholders to contest the transaction do not contradict the transaction, and thus the last Group-internal condition for the closing has been met. The Management Board of HVB has today also passed a resolution to transfer the operating units in Estonia, Latvia and Lithuania. As announced previously, a resolution was passed to transfer to UniCredit the BA-CA shares held by HVB.

 IR Release download (PDF, 120 KB)