UniCredit announces that Bayerische Hypo- und Vereinsbank AG ("HVB"), has completed today the acquisition of the shares held by Nordea Bank Finland plc in International Moscow Bank ("IMB") for a consideration of ca. USD 395 million.
As a result of the acquisition, HVB's shareholding in IMB's voting capital has increased from ca. 52.9% to ca. 79.3% (equal to ca. 70.3% of IMB's total share capital).
As announced on 12 September 2006, subject to the approval of HVB's extraordinary shareholders' meeting to be held on 25 October 2006 as well as other regulatory approvals, HVB will sell its entire shareholding in IMB to Bank Austria Creditanstalt AG for a cash consideration of ca. €984 million.
Milan, 10 October 2006
IMB ranks among the leading 10 banks in Russia, with 200,000 private individuals and 8,000 corporate clients and has a market share of ca. 1.5%.
The Bank, originally focused on corporate banking, started to diversify to retail, pursuing a strategy of strong growth in the latest two years. The Bank currently has a distribution network comprising 23 branches in Moscow and St. Petersburg and 17 branches in other regions of the country. IMB' s current strategy entails expansion in the retail segment with increase of number of branches in Moscow and other regions of the country.
With a market capitalization of approximately €70 billion (as at 9 October 2006), ranking among the top financial groups in Europe, UniCredit has a presence in 20 countries worldwide, with over 28 million clients and 7,000 branches, 134 thousand employees and total assets of approximately €804 billion as of 30 June 2006.
Enquiries:
Media Relations:
Tel. +39 02 88622612; e-mail: mediarelations@unicreditgroup.eu
Investor Relations:
Tel. + 39 02 88628715; e-mail: investorrelations@unicreditgroup.eu
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