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DORDA BRUGGER JORDIS advises BPCE on the … · 2017-01-20 · DORDA BRUGGER JORDIS advises BPCE on the sale of VBI Sberbank of Russia is in the process of acquiring Volksbank International

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Page 1: DORDA BRUGGER JORDIS advises BPCE on the … · 2017-01-20 · DORDA BRUGGER JORDIS advises BPCE on the sale of VBI Sberbank of Russia is in the process of acquiring Volksbank International

Media Information Vienna, 12 September 2011 DORDA BRUGGER JORDIS advises BPCE on the sale of VBI Sberbank of Russia is in the process of acquiring Volksbank International AG (VBI) and the Austrian law firm DORDA BRUGGER JORDIS and French law firm Bredin Prat represent Banque Populaire Caisse d'Epargne (BPCE), an outgoing VBI shareholder. Together with Barthélémy Courteault from Bredin Prat, M&A partners Christian Dorda and Jürgen Kittel from DORDA BRUGGER JORDIS led the team that negotiated the deal on behalf of BPCE. Andreas Zahradnik, also a partner at DORDA BRUGGER JORDIS, advised BPCE on the transaction's banking aspects and Bernhard Rieder provided corporate legal advice. Christian Zahn from Deutsche Bank acted as BPCE's financial advisor during the transaction. After extensive negotiations, the transaction was successfully signed on 8 Sept 2011. Closing is expected to take place by the end of 2011 upon the fulfilment of the conditions precedent. Österreichische Volksbanken-AG previously held 51 % of VBI, French cooperative bank group BPCE and German banking group DZ BANK AG and WGZ BANK AG each held 24.5 %. Sberbank will acquire 100% of VBI, which consists of nine banks in eight CEE countries (Slovakia, Czech Republic, Hungary, Slovenia, Croatia, Bosnia-Herzegovina, Serbia and Ukraine). VB Romania has been excluded from the transaction. The purchase price is approximately EUR 645 million, depending on VBI Group’s performance in the 2011 financial year (excluding VB Romania). In addition to the purchase price, Sberbank will take over EUR 2.5 billion of shareholders' financing. DORDA BRUGGER JORDIS is a leading law firm in Austria and advises in all areas of corporate and business law. In addition to M&A, corporate, banking and capital markets law, the firm's main practice areas comprise competition and anti-trust, tax law, real estate, employment law and public law. For further information please contact: Dr Christian Dorda T: +43 (0)1 533 4795-14, E: [email protected] DORDA BRUGGER JORDIS Attorneys at Law Dr-Karl-Lueger-Ring 10 1010 Vienna, Austria www.dbj.at