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Raiffeisen Banking Group UNIQA shares to be pooled and held by RZB


2.11.2016 14:08:00 | Autor/Izvor Limun.hr

Raiffeisen Zentralbank Österreich AG (RZB) has, with the authorization of the Supervisory Board, resolved to purchase shares in UNIQA Insurance Group AG amounting to a 2.24 per cent stake in total from Raiffeisen-Holding Niederösterreich-Wien, Raiffeisen-Landesbank Steiermark and Raiffeisenlandesbank Kärnten. Together with the sale announced in July, RZB will consequently hold around 10.87 per cent of the shares in UNIQA in total. As a result of the purchase, the UNIQA shares held by the Raiffeisen Banking Group will be pooled and held at RZB level, and the holding structure for the subsidiaries will be further simplified. It was agreed that the purchase price would be kept confidential. Execution of the transaction is to take place in 2016.

The purchase of the 2.24 per cent UNIQA stake will have a small negative effect on capital ratios. The impact of both transactions on RZB’s common equity tier 1 ratio (fully loaded) will still be positive in the amount of around 60 basis points and the impact on the common equity tier 1 ratio (transitional) will still be positive in the amount of around 40 basis points, based on the most recently available financial data. The effect would be identical for the merged entity comprising RZB and Raiffeisen Bank International AG.

The purchase is subject to a positive assessment by the Austrian Takeover Commission.


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