EANS-Adhoc: KA Finanz AG
Possible future absorption of parts of the assets and
liabilities of Kommunalkredit Austria AG in accordance with ad-hoc announcement
dated 11 August 2014
-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- other 13.03.2015 KA Finanz AG (KF), referring to the ad-hoc announcement dated 11 August 2014 and based on information just received from Finanzmarktbeteiligung Aktiengesellschaft des Bundes (FIMBAG), notifies the following: In the partial sale process of KA announced on 11 August 2014, a significant interim step has been achieved as of today. FIMBAG, the joint shareholder of Kommunalkredit Austria AG (KA) and KF, has signed a share purchase agreement with a buyer consortium, consisting of the English Interritus Limited, initiated by Dr. Patrick Bettscheider, and the Irish Trinity Investments Limited, managed by the London-based asset manager Attestor Capital LLP, (Consortium), providing, inter alia, for the following: - The entire business operations of KA, including all its subsidiaries, will be transferred to a newly incorporated company (KA New) by way of a proportionate demerger according to §1.2.2 First Scenario of the Austrian Demerger Act (Spaltungsgesetz). This includes loans and securities of the existing KA in the amount of approximately EUR 3.5 billion out of total assets according to the Austrian Commercial Code of approximately EUR 4.3 billion. - The part of KA remaining after this restructuring step (KA Residual) with total assets of approximately EUR 7 billion will be merged into KF. - The effectiveness of the share purchase agreement and the execution of the demerger of KA for new incorporation as well as the merger of KA Residual into KF are subject to a number of pre-conditions and approvals to be granted by the competent bodies of KF and of KA, i.e. the Supervisory Board and the Annual General Meeting, as well as the competent bank supervisory authorities, the European Commission and other authorities. The partial sale of KA and the sale of the shares of FIMBAG in KA New are in compliance with the Amendment Decision of the European Commission dated 19 July 2013 and the public tender published by FIMBAG on 14 August 2014. ISIN: AT0000441209; XS0140045302; XS0144772927; XS0185015541; XS0257275098; XS0270579856; XS0279423775; XS0286975973; XS0354530916 Stock exchanges: Vienna, Luxembourg For enquiries please contact: KA Finanz AG Investor Relations Dinah Reiss 1092 Wien/Vienna, Türkenstraße/Tuerkenstrasse 9 Tel./Phone: +43/1/31 6 31-678 Fax: +43/1/31 6 31-505 oder/or 99678 Mail: d.reiss@kafinanz.at WWW: www.kafinanz.at Issuer: KA Finanz AG Tuerkenstrasse 9 A-1092 Vienna Phone: +43/1/310 06 06 Fax: +43/1/310 06 06-404 Email: info@kafinanz.at WWW: www.kafinanz.at Sector: banks ISIN: - Indices: Stock exchanges: Vienna Stock Exchange Language: English Further inquiry note: KA Finanz AG Treasury - Investor Relations Dinah Reiss A-1092 Wien, Türkenstraße 9 Tel.: ++43(0)1/310 06 06-678 Fax : ++43(0)1/310 06 06-505 or 99678 Mail: d.reiss@kafinanz.at end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: KA Finanz AG Türkenstraße 9 A-1092 Wien phone: +43/1/310 06 06 FAX: +43/1/310 06 06 - 404 mail: info@kafinanz.at WWW: www.kafinanz.at sector: Banking ISIN: - indexes: stockmarkets: stock market: Wien language: English
Original content of: KA Finanz AG, transmitted by news aktuell