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20.06.2007

BA-CA to acquire a 9.97% interest in its Russian subsidiary IMB

Today, Bank Austria Creditanstalt (BA-CA) has given notice to the European Bank for Reconstruction and Development (EBRD) to exercise its call option to acquire 12,978 common shares of its Russian subsidiary International Moscow Bank (IMB), representing a shareholding of 2.79 per cent of IMB’s total share capital. Pursuant to the call option agreement, the price for such shares will be ca. US$ 41.3 million (€30.8 million).

In addition, BA-CA and EBRD have today signed an agreement to acquire a further 6,822 common shares and 26,533 preference shares of IMB, representing a shareholding of 7.17 per cent of IMB’s total share capital for a price of US$ 188.1 million (€140.4 million).

Following completion of the acquisition of the shares held by EBRD, which is currently expected to take place in July subject to regulatory approvals, BA-CA will hold 100 per cent  of IMB’s total share capital.

 IR Release download (PDF, 114 KB)