Ceska Sporitelna has a new shareholder

Article Abstract:

Ceska sporitelna (CS) (Czech Republic), financial institution, has a new shareholder. The shareholder is the European Bank for Reconstruction and Development (EBRD), which bought 9 mil shares in CS for 2.5 bil Kc and acquired a 11.8% stake in the firm. A reason for the purchase is the slow privatisation of banks in the Czech Republic. EBRD would like to participate in the privatisation of Czech banks and to invest 200-300 mil ECU in the Czech Republic. EBRD will purchase a 30% stake in Agrobanka (Czech Republic). The bank is also negotiating its participation in the privatisation of Ceskoslovenska obchodni banka (Czech Republic).

Comment:

Acquires 9 mil shares in Ceska Sporitelna worth 2.5 bil Kc and an 11.8% stake in the firm

European Bank for Reconstruction and Development, Article, Ceska Sporitelna

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AUSTRIA: BUYER SOUGHT FOR DONAU-BANK

Article Abstract:

The Austrian weekly paper Profil reports that the Central Bank of Russia is looking for a buyer for its 49% stake in Austrian Vienna-based Donau Bank AG. The International Monetary Fund is demanding that the Russian central bank sells its stake in a number of foreign banks in order to qualify for a loan of about Sch 8.4bn. The Bank for Foreign Trade of Russia holds 51% of the stock of Donau Bank. Two years ago Bank Austria declined a takeover of Donau Bank.

Russia, Former Soviet Union, Donau-Bank AG, Central Bank of Russia

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CZECHIA/HUNGARY: INTESA BUYS INTO BACA UNITS

Article Abstract:

Banca Intesa SpA has acquired 10% stakes in two subsidiaries of BA CA International in the Czech Republic and Hungary. The big Italian bank thus holds 10% of Bank Austria Creditanstalt Hungary and 20% of the Czech bank. Banca Intesa holds a 3.18% stake in Bank Austria.

Italy, Hungary, Banca Intesa S.p.A., Bank Austria Creditanstalt Hungary, Oesterreichische Nationalbank

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