UniCredit Bank Austria AG

Demerger of the CEE business unanimously approved by the Annual General Meeting of Bank Austria

Business news for the stock market

Vienna (pta001/06.08.2016/00:04) - Today the Annual General Meeting of UniCredit Bank Austria AG ("Bank Austria") unanimously approved the demerger of the CEE business of Bank Austria into UCG BeteiligungsverwaltungGmbH ("NewCo"), an Austrian company wholly owned by UniCredit SpA. NewCo also approved the demerger and the following transfer into UniCredit SpA.

The completion of the demerger of Bank Austria's CEE business into NewCo and its transfer into UniCredit are subject to the relevant regulatory approvals and are expected to be executed simultaneously with effect from 1 October 2016.

The reorganization project is on track and will allow Bank Austria to fully focus on the development of the Austrian business, leveraging on a strengthened capital structure thanks to a cash contribution of Eur 1 bn made by UniCredit SpA on 4 August 2016.

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emitter: UniCredit Bank Austria AG
address: Schottengasse 6-8, 1010 Wien
country: Austria
contact person: Günther Stromenger
phone: [phone]
e-mail: [e-mail]
website: www.bankaustria.at

ISIN(s): AT0000995006 (bond), XS0638845700 (bond)
stock exchanges: regulated open market in Vienna; open market (free market) in Frankfurt, free market in Stuttgart, free market in Munich
other stock exchanges: Luxemburg

[ source: http://www.pressetext.com/news/20160806001 ]