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04.12.2006

BA-CA to acquire UniCredit's banking subsidiaries in CEE
(excluding Poland)

  • BA-CA Management Board resolves on a capital increase for the contribution in kind
  • Transaction planned to be completed during the 1st Quarter 2007

Following today's resolution of BA-CA's Management Board, BA-CA will acquire UniCredit's banking subsidiaries in Bulgaria, Croatia, Romania, Slovakia, the Czech Republic and Turkey. The transaction is planned to be completed during the first quarter of 2007 and envisages the contribution in kind of UniCredit's business unit comprising its banking shareholdings in CEE (excluding Poland) in exchange for 55 million newly issued BA-CA shares.

The Management Board of BA-CA has approved the capital increase related to the above transaction, subject to approval by the Supervisory Board, and has set the issue price at EUR 105.33 per newly issued share. The newly issued shares will not be eligible for a dividend for 2006; similarly, BA-CA will not be eligible to receive dividend in respect of the shares acquired through the contribution in kind.

Once the transaction is completed, the shareholding held directly and indirectly by UniCredit in BA-CA will increase from 94.98% to a total of 96.35%.

This transaction constitutes a further step in the reorganisation of the UniCredit Group. In particular, BA-CA is also planning to complete, at the beginning of 2007, the purchase from HVB of shares in International Moscow Bank in Russia and of the activities carried out in the three Baltic States.

The UniCredit Group operates the largest international banking network in Central and Eastern Europe with over 3,000 branches. It has more than 60,000 employees looking after some 24 million clients. Within the Group, BA-CA is responsible for Eastern European business.

Inquiries: Bank Austria Creditanstalt press office
Peter N. Thier, Tel. +43 (0)50505 52371
E-Mail: peter.thier@ba-ca.com
Ildiko Füredi-Kolarik, Tel. +43 (0)50505 56102
E-Mail: ildiko.fueredi@ba-ca.com