Sale of CAIB AG to HypoVereinsbank completed
- The sale of CAIB AG by Bank Austria to HypoVereinsbank for EUR 1.24 billion as of 1 June 2010 was finalised as planned
- Customer-driven investment banking business, funding activities of Bank Austria and the local capital markets business have been reintegrated from CAIB AG into Bank Austria
- Markets activities of CAIB will be conducted within a Vienna-based HypoVereinsbank unit in the future
The sale of CAIB AG by UniCredit Bank Austria AG to HypoVereinsbank (UniCredit Bank AG) already communicated in February 2010 has been completed as of today after all regulatory approvals were obtained.
"The closing of the sale marks the completion of the reorganisation of Bank Austria's investment banking activities as planned. All investment banking activities driven by corporate customers have been combined within the newly created Corporate & Investment Banking Division with a view to sharpening the focus on customers", says Helmut Bernkopf, the Management Board member of Bank Austria who is responsible for these operations.
Before completion of the sale, all customer-related investment banking activities, the funding activities of Bank Austria and the local capital markets business were reintegrated from CAIB into Bank Austria. On the basis of an independent valuation by external experts, the restructured CAIB AG (including CAIB UK) was transferred to HypoVereinsbank for EUR 1.24 billion plus excess capitalisation. The Group's Russian investment bank (UniCredit Securities, the former ATON) and CAIB Poland as well as the Corporate Finance subsidiaries are not part of the transaction and will remain within Bank Austria.
Enquiries: Bank Austria Media Relations
Martin Halama; tel.: +43 (0) 50505 - 52371