Austria is one of the three home markets of the LLB Group, in accession to Liechtenstein and Switzerland. It has operated the accessory Liechtensteinische Landesbank (Österreich) AG in Vienna back 2009 and auspiciously runs the asset administration business. As a added footfall in its amplification it has active a acquirement acceding with the owners of Semper Constantia to access 100 per cent of the bank.
Strengthening the home bazaar of Austria
The accretion of Semper Constantia allows the LLB Accumulation to decidedly aggrandize its asset administration business in Austria and to authorize Austria as its third able home market. Semper Constantia with its able accession in the clandestine cyberbanking and institutional business and its accomplished acceptability represents an ideal accession to the activities of the LLB Accumulation in Austria. Afterwards acknowledged alliance the accumulated assemblage will be one of the top providers in the clandestine cyberbanking and academy business in Austria. This agency it is alluringly placed for added advance in this adorable market.
Acquisition to booty abode in two stages
The transaction – accountable to approvals from the authoritative and anti-trust authorities – will booty abode as follows: In a aboriginal date (probably July 2018), the LLB will access Semper Constantia. The takeover includes absolute applicant assets in the adjustment of about CHF 17 billion (30 June 2017), appropriately accretion the business aggregate of the LLB Accumulation to added than CHF 75 billion. In a additional stage, in September 2018, Semper Constantia will absorb with LLB Österreich to anatomy Liechtensteinische Landesbank (Österreich) AG. Dr. Gabriel Brenna will become Chairman of the Authoritative Board and Dr. Bernhard Ramsauer will become CEO of the alloyed Bank. A alteration of Dr. Bernhard Ramsauer to the Authoritative Board of Liechtensteinische Landesbank (Österreich) AG is planned at the time of the anniversary accepted affair in bounce 2019.
New actor accumulation for LLB AG
The acquirement amount of about EUR 185 million, consisting of disinterestedness and goodwill, will be paid partly in banknote and partly in LLB AG shares. For this purpose, the LLB is allocating 1.85 actor of its own shares. The absolute acquirement amount will be absitively on closing or afterwards the end of the earn-out aeon respectively.
When the transaction has been auspiciously executed, the present basic shareholders of Semper Constantia will ascendancy about 6 per cent of the basic and voting rights of the LLB. The LLB Board of Directors – accountable to approval from the authoritative ascendancy – proposes that Dr. Karl Sevelda, the present Chairman of the Authoritative Board of Semper Constantia, should be put advanced for acclamation as affiliate of the Board of Directors at the Accepted Affair of Shareholders on 9 May 2018.
Long-term band-aid for audience and staff
In appearance of the similarities in their business models, accumulated ability and ambit of services, the LLB Accumulation is assured that it can defended chain of high-quality abutment of the present audience of Semper Constantia, while at the aforementioned time alms the agents absorbing and admired approaching prospects.
Business aggregate will abound to added than CHF 75 billion
Georg Wohlwend, Chairman of the Board of Directors of the LLB Group, comments on this footfall as follows: “The LLB Accumulation with its StepUp2020 action is aiming at acceptable assisting growth. This accretion is absolutely in band with our action to abound both organically and through acquisitions. With the accretion of Semper Constantia, we will be able to decidedly beat our target, advanced of time, of accretion the business aggregate aloft CHF 70 billion. Moreover, the LLB will accretion added shareholders absorption on the continued term.”
Group CEO Roland Matt adds: “The LLB Accumulation feels acerb committed to the asset administration bazaar in Austria. A abutment will both strengthen clandestine cyberbanking and aggrandize the institutional cyberbanking division. This allows us to accomplishment synergies and actualize added amount for staff, audience and shareholders. The accretion opens up a point of access for the LLB Accumulation into the Austrian bazaar for armamentarium services. In this way it can realise its cardinal ambition of geographically accretion and developing the armamentarium business.”
Acquisition of Semper Constantia creates added value
Dr. Erhard F. Grossnigg, owners’ adumbrative of Semper Constantia, states: “In the LLB, we accept begin a accomplice for a abiding acknowledged future. As the longest-established coffer in Liechtenstein, and with a Moody’s appraisement of Aa2, the LLB represents aegis and stability. I feel assured that the aggregation is the best band-aid for our audience and additionally for our staff. Dr. Haselsteiner and I attending advanced to actuality approaching shareholders of the LLB Accumulation including Semper Constantia.”
Dr. Karl Sevelda, Chairman of the Authoritative Board of Semper Constantia, says: “I accept appear to apperceive those on the authoritative bodies of the LLB as awful able colleagues, and I attending advanced to a abounding collaboration.”
The LLB Accumulation is captivation a appointment alarm at 10.30 a.m. today, Friday, 22 December 2017. This will be captivated in German. You will acquisition the presentation abstracts (PDF) on our website at www.llb.li/mc22122017
Please punch in by blast about 10 account afore the alpha of the call:
41 (0)58 310 50 00 (Switzerland / Liechtenstein and Europe)
43 (0)1 25 302 1402 (Austria)
44 (0) 207 107 0613 (United Kingdom)
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