Wiener Privatbank, a private bank based in Vienna, has completed the acquisition of the banking operations of Valartis Bank (Austria).
The acquisition will bolster the position of Wiener Privatbank in the private banking market. It will also enable the lender to further globalise its operating basis and expand its services and product portfolio.
Go deeper with GlobalData
As per the terms of asset deal, Wiener will take over the banking operations of Valartis Bank (Austria), which will include employees, and its holdings in the investment company, within the framework of an asset deal.
The development will see Valartis Bank (Austria) retaining EUR 13 m (net) plus equity capital amounting to EUR 61.8 m (31 December 2015).
The deal also includes the purchase of real estate located at Rathausstrasse 20, 1010 Vienna by a joint venture company, in which Wiener Privatbank owns a majority stake.
Wiener Privatbank agreed to Valartis Bank (Austria) in a deal worth EUR13m in December 2015.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
