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Austria's Volksbanken sells Malta unit to MedBank
April 11, 2014 / 9:31 AM / 4 years ago

Austria's Volksbanken sells Malta unit to MedBank

VIENNA, April 11 (Reuters) - Austria’s part-nationalised Volksbanken AG has sold its Volksbank Malta unit to Mediterranean Bank, it said on Friday, giving no financial details.

After carving out its international business last year, the Maltese business has total assets worth around 150 million euros ($208 million), Volksbanken said in a statement.

The contract was signed on Friday and closing of the deal will take place after regulatory approval, it added. KPMG Corporate Finance and the Schoenherr law firm advised Volksbanken, it said. ($1=0.7204 euros) (Reporting by Michael Shields; Editing by Greg Mahlich)

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