C-QUADRAT plans acquisition of M&A PrivatBank
Geschrieben am 14-07-2008 |
Synergies across all divisions C-QUADRAT thus to increase fee-generating assets to EUR 5.8 billion Combined total assets: approximately EUR 200 million
-------------------------------------------------------------------------------- ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
merger, acquisition and takeover
Wien (euro adhoc) - Vienna, Frankfurt, 14 July 2008. C-QUADRAT Investment AG (ISIN AT0000613005) is planning - subject to positive due diligence, the approval of its Supervisory Board and the Supervisory Authorities - to purchase a 100% stake in Techno Verwaltungs- und Beteiligungs AG, the sole owner of M&A PrivatBank AG. M&A PrivatBank specialises in private banking, asset management and corporate finance and has fee-generating assets of EUR 1.3 billion. Integrating M&A Bank into the C-QUADRAT Group would increase total fee-generating assets at C-QUADRAT to approximately EUR 5.8 billion. The combined total assets of the two companies would amount to around EUR 200 million.
The transaction will allow considerable synergies to be released at both companies. In addition to pooling the two companies at a shared location, considerable synergies can be achieved in IT and other administrative areas, for example. There are also plans to bring the product offerings of the two companies in the asset management segment in line with each other and to eliminate redundancies, as well as to use M&A PrivatBank AG as the central custodian bank for C-QUADRAT's institutional fund brokerage activities. A merger of the companies' two private customer areas is currently being examined.
"Integrating M&A Bank in the C-QUADRAT Group will mark a material improvement in the starting point for further shared growth by both companies. The combination of the services of a professional private bank and the strengths of a rapidly growing and successful asset manager are ideal conditions for a successful future. Two highly professional teams will be joining forces to perfectly complement each other in the future," stated Thomas Rieß, founder and member of C-QUADRAT's Board of Management and Wolfgang Sieder, Board of Management member at M&A PrivatBank.
C-QUADRAT- the fund company - is an independent asset manager operating across Europe. Founded in 1991, the company has had is own asset management company with a bank licence since 2003 and has been listed in the Prime Standard of the Frankfurt Stock Exchange since November 2006 and in the Prime Market of the Vienna Stock Exchange since May 2008. The C-QUADRAT team has made a name for itself across Europe with its asset management, analysis and investment fund management activities and by devising structured products. Innovative investment strategies for institutional investors round off the product offering. Many banks, insurance companies and financial service providers operating internationally rely on the expertise of C-QUADRAT.
end of announcement euro adhoc --------------------------------------------------------------------------------
ots Originaltext: C-QUADRAT Investment AG Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note:
Mag. Andreas Wimmer
Member of the Board
C-QUADRAT Investment AG
Stubenring 2
A-1010 Vienna
Tel.: +43 1 515 66 316
Fax: +43 1 515 66 359
Mail: a.wimmer@investmentfonds.at
Branche: Financial & Business Services ISIN: AT0000613005 WKN: Index: Prime.market Börsen: Börse Frankfurt / official market Wiener Börse AG / official market
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