Unicredito hikes Bank Austria stake to 96.35 in equity swap |
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Published
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Mon, 19 Mar 2007 13:33
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MILAN (AFX) - Unicredito Italiano SpA said it increased its stake in Bank Austria Creditanstalt AG to 96.35 pct from 94.98 in an equity swap for part of its assets in Central and Eastern Europe.The Austrian bank received Unicredito's 50.00 pct stake in Turkey's Koc Finansal Hizmetler AS, 81.91 pct in Croatia's Zagrebacka banka DD, 86.13 pct in Bulgaria's Bulbank AD, 100.00 pct in the Czech Republic's Zivnostenska banka, 97.11 pct in Slovakia's Unibanka and 99.95 pct of Romania's Unicredit Romania SA.The operation does not include Poland's Bank Pekao SA, which remains with Unicredito.Unicredito already announced plans to squeeze out minority shareholders in Bank Austria by mid-2007 to delist the company.philip.webster@thomson.compw/sljCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Bank Austria Creditanstalt long-term counterparty rating raised to 'A+' at S&P 