|January 10, 2007|
Volksbank International AG (VBI) with the Headquarter in Vienna signed Agreement on purchasing of shares of Open Joint Stock Company "Electron Bank" from existing shareholders. According to the Agreement "VBI purchases more than 98% of "Electron Bank" shares". Agreement is subject to approval of the National Bank of Ukraine, Austrian Money Markets Regulatory Body and other respective Bodies in Ukraine and Austria.
Purchase of "Electron Bank" is a continuation of VBI activity expanding in Central-Eastern Europe and will allow taking advantage of significant potential of long-term growth in Ukraine. Combination of VBI' experience and resources with knowledge of Ukrainian market of "Electron Bank" is the pledge for further development of "Electron Bank" ; at the same time is opens new possibilities for the existing clients and employees.
The company "Concorde Capital" was financial advisor of "Electron Bank", «FinPoint" was financial advisor of VBI and "Dorda Brugger Jordis" with "Beiten Burkhardt" were legal advisers of VBI.
VBI is the Austrian Bank' owner of which is Österreichische Volksbanken - AG (ÖVAG) (Austria), DZ BANK AG / WGZ-Bank (Germany) and Banque Fédérale des Banques Populaires (France). VBI manages successful and constantly growing branch network of more than 240 branches in eight countries of Central-Eastern Europe. VBI has subsidiary Banks in Slovenia, Czechia, Hungary, Slovakia, Croatia, Romania, Bosnia and Herzegovina, Serbia,which unite assets of EUR 5,9 billions. With the help of more than 3 100 employees Bank offers full range of modern Banking products and services for legal entities and private individuals.