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30.12.2008

Bank Austria sells B&C profit participation rights to B&C Holding

UniCredit Bank Austria AG announces the sale of the profit participation rights which it holds in B&C Holding to B&C Beteiligungsverwaltungs GmbH, a wholly owned subsidiary of B&C Privatstiftung, a private foundation under Austrian law, which holds participations in enterprises such as Lenzing and Semperit.

Transaction volume is approximately EUR 1.1 billion, including value of retained profit participation rights in the earnings of the participation of B&C in Allgemeine Baugesellschaft A. Porr AG and a final dividend under the profit participation rights. Furthermore, an additional potential deferred payment amount  has been agreed between Bank Austria and B&C Privatstiftung which is conditional on repayment of the acquisition financings by B&C and will depend on the future performance and earnings of Lenzing and Semperit.

The sale of Bank Austria's profit participation rights to B&C Beteiligungsverwaltungs GmbH enables Bank Austria to continue its ongoing strategy of increasingly focusing on the bank’s core business whilst continuing to act in accordance with its responsibilities towards Austria as a business location.

In 2000, Bank Austria transferred all its equity interests in industrial companies to B&C Privatstiftung. In exchange for this transfer, Bank Austria received profit participation rights in B&C Holding’s profits. Following completion of this transaction, Bank Austria will continue to hold profit participation rights in Allgemeine Baugesellschaft A. Porr AG only.

Enquiries: Bank Austria Communications Austria
Martin Halama, tel. +43 (0) 50505 52371
e-mail: martin.halama@unicreditgroup.at

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