Wiener Privatbank SE completed the acquisition of the banking operations of Valartis Bank AG.
As of December 18, 2015, agreement was signed. The transaction is subject to the appropriate decisions by the relevant bodies, obtaining the required supervisory approvals in Austria, an in-depth due diligence and other customary closing conditions. The deal is expected to complete in quarter 2 of 2016. As of December 29, 2015, shareholders of Wiener Privatbank SE approved the transaction. Wendelin Ettmayer of Baker & McKenzie acted as legal advisor in the deal.
Wiener Privatbank SE (WBAG:WPB) completed the acquisition of the banking operations of Valartis Bank (Austria) AG on April 1, 2016. Pursuant to the transaction, Wiener Privatbank acquired all employees of Valartis Bank.