On 20 November 2015, Valartis Group AG and Wiener Privatbank announced that following the signing of a terms sheet (as a legally binding agreement), Wiener Privatbank SE was planning to take over a major portion of Valartis Bank (Aust­ria) AG`s banking operations. On 18 December 2015 in the evening, contracts of sale have been signed by Wiener Privatbank and Valartis Bank (Austria) AG. Valartis Bank (Austria) AG`s banking operations, together with their holding in the investment company will be acquired within the framework of an asset deal. Real estate located at Rathausstrasse 20, 1010 Vienna, will be purchased by a joint venture company, in which Wiener Privatbank owns a majority holding. As previously announced, the agreed overall purchase price will be around EUR 13 m. The transaction remains subject to the appropriate decisions by the relevant bodies and the required supervisory approvals. Completion is expected in the 2nd quarter of 2016.

Valartis Bank (Austria) AG is a wholly-owned, indirect subsidiary of Valartis Finance Holding AG, Liechtenstein, which, in turn, is a wholly-owned subsidiary of Valartis Group AG. Valartis Group`s two private banks in Liechtenstein and Austria are to be divested as part of the recovery plan for Valartis Finance Holding AG and Valartis Group AG (see Media Release dated 16 November 2015).

For further information, please contact:
Kim-My Schefer, Head Corporate Communications & Marketing
Tel. +41 44 503 54 02, corporate.communications@valartis.ch

Valartis Group
Valartis Group is an international finance group represented today with offices in Liechtenstein, Austria, Switzerland as well as Luxembourg and Moscow. The Group`s holding company is domiciled in Switzerland and is listed on the SIX Swiss Exchange. Valartis Finance Holding AG in Liechtenstein comprises the operations of the private banking and wealth management divisions, together with the private equity operations of ENR Russia Invest S.A. Valartis Finance Holding AG is subject to the consolidated banking supervision by the Financial Market Authority of Liechtenstein (FMA). Valartis Group focuses on the wealth management business for wealthy private clients and institutional investors in addition to traditional wealth management and investment advisory, it develops, manages and markets innovative niche investment products and offers specialized product packages. In doing so, Valartis Group combines a wide range of traditional private banking services with specialized advisory and classical banking services in the fields of Asset Management, Corporate Finance and Private Equity together with innovative investment products in the categories Stocks, Fixed Income, Alternative Investments and Real Estate. Valartis Group`s core markets include Central and Eastern Europe, the Middle East and certain countries in North and South America and Asia.
www.valartisgroup.ch

Press release (PDF)

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Source: Valartis Group AG via GlobeNewswire
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