Binder Grösswang advises English-Irish Buyer Consortium on the

Press Release
Binder Grösswang Advises English-Irish Buyer Consortium on the
Acquisition of Kommunalkredit
(Vienna, 16.03.2015) A team led by Binder Grösswang partners Tibor Fabian
(Banking and Finance) and Markus Uitz (Corporate/M&A) advised an English-Irish
buyer consortium on the acquisition of 99.78 % of the shares in Kommunalkredit
Austria, within the framework of a public tender procedure. The buyer consortium
consists of the English company Interritus Limited, initiated by Dr. Patrick
Bettscheider, and the Irish company Trinity Investments Limited, managed by the
London-based asset manager Attestor Capital LLP. Tibor Fabian comments:
“Despite the duration of more than a year, it was possible to successfully conclude
the privatisation of Kommunalkredit in a difficult economic environment. The
turbulences of the past weeks were not exactly conducive to the closing.”
The seller is FIMBAG (Finanzmarktbeteiligung Aktiengesellschaft des Bundes),
which holds the shares in trust for the Republic of Austria. The signing took place
on 13 March 2015, and the closing of the transaction is planned for June 2015. It
was agreed that the purchase price would be kept confidential. The buyer
consortium, whose team is comprised of former CEOs with many years of banking
experience, plans to continue and expand the bank’s activities in infrastructure
finance, above all for the construction of roads and hospitals and for renewable
energy sources. The intention is to strengthen the newly incorporated
Kommunalkredit New (with total assets currently amounting to approximately EUR
4.3 billion) on a long-term basis and thereby vitalise the banking market in Austria
and Europe. The entire staff of Kommunalkredit will be taken over by
Kommunalkredit New.
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Dr. Esther Lajta-Fichtinger
Head of Corporate Communications
direct +43 (1) 534 80 - 662
[email protected]
www.bindergroesswang.at
Binder Grösswang Rechtsanwälte GmbH
Sterngasse 13, 1010 Vienna
T +43 (1) 534 80 F +43 (1) 534 80 8
Sitz Wien FN 178516 z HG Wien
Binder Grösswang Partner Tibor Fabian (links) und Markus Uitz beraten
das Käuferkonsortium beim Kauf der Kommunalkredit.
Enquiries:
Esther Lajta-Fichtinger
Head of Corporate Communications
BINDER GRÖSSWANG Rechtsanwälte GmbH
T +43 (1) 534 80-256
M +43 (664) 822 4003
[email protected]
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