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Binder Groesswang Advises on Mergers of Volksbanken in Lower Austria

Binder Groesswang Advises on Mergers of Volksbanken in Lower Austria Binder Groesswang Advises on Mergers of Volksbanken in Lower Austria

Binder Groesswang has advised Volksbank Oberes Waldviertel and Volksbank Niederosterreich in connection with the merger of the banking operations of the two banks. Volksbank Oberes Waldviertel (with a balance sheet total of the transferred banking operations of approximately EUR 166 million) transferred its business by way of contribution to Volksbank Niederosterreich. The transaction was completed on August 2, 2016.

The merger is part of the strategic restructuring of the Austrian Volksbank sector: By 2017, the more than 40 previously existing Volksbank institutions (balance sheet total of approximately EUR 30 billion) will be merged into eight regional Volksbank institutions and two specialized banks.

Binder Groesswang advised, in particular, on the corporate structuring and implementation, on banking supervisory related issues, and on competition law, and represented the banks in proceedings before authorities (i.e., the Companies’ Register, Financial Market Authority, European Central Bank, and Federal Competition Authority).

The firm's core team was led by Senior Partner Michael Binder and Partner Gottfried Gassner and included Attorneys at Law Claudia Fochtmann and Stefan Frank. The team also included Partner Christian Wimpissinger, Counsel Isabelle Innerhofer, and Associates Mona Holzgruber, Felix Kirkovits, Kerstin Pokorny, Stefanie Ziegler, and Barbara Gangl.

Last modified onThursday, 04 August 2016 08:27
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