DGAP-Adhoc: Wüstenrot & Württembergische AG: W&W AG sells Wüstenrot Bank AG Pfandbriefbank to BKB

2018. március 27., kedd, 11:06





DGAP-Ad-hoc: Wüstenrot & Württembergische AG / Key word(s): Disposal


Wüstenrot & Württembergische AG: W&W AG sells Wüstenrot Bank AG Pfandbriefbank to BKB


27-March-2018 / 11:06 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Wüstenrot & Württembergische AG (W&W) has agreed to sell its subsidiary Wüstenrot Bank AG Pfandbriefbank to Bremer Kreditbank AG (BKB). At the same time, the W&W Group has agreed with the bank under new ownership on an extensive sales collaboration, enabling the reciprocal sale of the financial products of both entities and the further strengthening of sales. The agreement was signed by the two parties today. Closing is expected to take place once the necessary regulatory approvals have been received. The parties have agreed to keep the purchase price confidential.

 



W&W AG, which until now has held 100% of the shares of Wüstenrot Bank, had explored future options for the institution over the course of 2017, without any preconceived notions as to the outcome, in order to open up greater growth opportunities for it. The ownership structure of Wüstenrot Bausparkasse AG, which is affiliated with Wüstenrot Bank, will not be affected by the current transaction.











27-March-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Wüstenrot & Württembergische AG

Gutenbergstrasse 30

70176 Stuttgart

Germany
Internet: www.ww-ag.com
ISIN: DE0008051004
WKN: 805100
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Tradegate Exchange





 
End of Announcement DGAP News Service




669185  27-March-2018 CET/CEST







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