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Abonner Valartis Group AG

Valartis Group AG

euro adhoc: Valartis Group AG
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Valartis Group acquires private bank and asset management company in Vienna

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
05.09.2008
As part of the expansion of its private banking and asset management 
activities, Valartis Group AG has acquired Anglo Irish Bank (Austria)
AG. The bank, which will be renamed Valartis Bank (Austria) AG, is 
domiciled in Vienna and has assets of approx. CHF 2 billion under 
management on behalf of its international private clients. The 
acquisition of this private bank will enable Valartis to strengthen 
its earnings capacity and open up new growth opportunities.
Broadly-based private banking business The activities of Anglo Irish 
Bank (Austria) AG, whose origins go back to the year 1890, are 
concentrated on private banking services for its predominantly 
international private clients. Through its subsidiary, AIBC Anglo 
Irish Bank (Austria) Kapitalanlagegesellschaft mbH, the bank is also 
engaged in the area of asset management through its own funds. The 
bank has a total of around CHF 2 billion under management for its 
approx. 3,500 customers and employs 100 personnel. In regional terms 
the bank operates primarily in Western Europe, Eastern Europe and 
Russia/CIS as well as North America and over recent years has been 
able to significantly expand its market presence particularly in 
Eastern Europe and Russia/CIS.
Long-term strengthening of the earnings capacity The acquisition of 
Anglo Irish Bank (Austria) will enable Valartis to substantially 
expand its wealth management activities and increase the group´s 
assets under management to a total of CHF 5.5 billion. The earnings 
capacity of Valartis, based on the three pillars of asset management,
wealth management and investment banking, will therefore be put on a 
broader base and be strengthened sustainably. This will 
simultaneously open up new growth oppor-tunities, for example as a 
result of the joint market presence in Eastern Europe and Russia/CIS,
the bundling of product know-how in the area of asset management or 
the broader utilization of the service offering in the private 
banking business. In this context Anglo Irish Bank (Austria) AG, 
which will be renamed Valartis Bank (Austria) AG, will essentially 
operate as an independent subsidiary and remain under the guidance of
the existing management which established the successful growth 
strategy of the past years.
Valartis signed a purchase agreement for Anglo Irish Bank (Austria) 
with the mother company Anglo Irish Bank Corporation plc, Dublin, 
Ireland, with effect from September 4, 2008. The parties agreed not 
to disclose the purchase price. The Valartis Group is financing the 
transaction through existing own resources as well as borrowings. It 
is expected that the acquisition of Anglo Irish Bank (Austria) AG 
will be finalized in the fourth quarter 2008 subject to approval from
the regulatory authorities.
end of announcement                               euro adhoc

Further inquiry note:

Gustav Stenbolt, CEO
Tel. +41 43 336 81 11

Branche: Financial & Business Services
ISIN: CH0001840450
WKN: 184045
Index: SPI, SPIEX, SSCI
Börsen: SWX Swiss Exchange / official market

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