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Sber closes Austrian subsidiary sales deal — press service

"All the required regulatory approvals were received," the Bank said

ST. PETERSBURG, June 16. /TASS/. Sberbank has closed the deal of selling its wholly-owned subsidiary bank in Austria to a company controlled by Stephan Zoechling, the bank’s press service said during the St. Petersburg International Economic Forum (SPIEF).

"Sberbank Group announces closure of the transaction of selling 100% shares in the Austrian subsidiary Sber Verm·gensverwaltungs AG in Abwicklung (Sberbank Europe AG earlier) to an Austrian company controlled by Stephan Zoechling. Sber therefore has completely withdrawn from the European banking market," the press service said.

"All the required regulatory approvals were received," the Bank said.

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Austria Sberbank SPIEF-2023

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