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May 9, 2021
BUSINESS

Rothschild, intermediary in sale of Volksbank Romania

Austrian group Volksbank has contracted Rotschild as an intermediary in selling the Romanian subsidiary, inside sources have stated for Bloomberg, as cited by Die Welt and Mediafax. Now that the Rotschild bank has been selected, the sale of Volksbank Romania S.A. can officially start, according to the cited sources. Pursuant to the restructuring plan approved by the European Commission, the Austrian bank must sell the Romania subsidiary by end-2017, in addition to other assets. Last October, Volksbank Romania was taken over by VBI Beteiligungs, as part of selling the Volksbank International division, with the exception of the Romanian subsidiary, to Sberbank in Russia. Volksbank’s assets in Romania amount to ca. EUR 4 billion

 

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