Binder Groesswang has advised Anadi Bank on transferring its Carinthian branches with around 42,000 retail customers, 250 SME customers, and a business volume of just under EUR 1.7 billion to Grawe Banking Group's Bank Burgenland. E+H advised Grawe.
Closing is expected in September 2024.
According to Binder Groesswang, the aim is to spin off the corresponding sub-operation from Anadi Bank to Bank Burgenland. “After completion of the transaction, Anadi Bank will focus on the digital banking and public finance business units, both of which will continue to be supervised from the headquarters in Klagenfurt, as well as on the corporate business, which is managed from its Vienna office. The digital business also includes the mobile sales cooperation Anadi Connect with Austria's independent financial service providers and the cooperation MARIE with Austria's tobacconists. For the customers of these business units, the sale of the branch network and the majority of the SME business will have no effect.”
The Binder Groesswang team included Partners Stephan Heckenthaler, Thomas Schirmer, and Stefan Frank, Attorneys at Law Mona Holzgruber, Miriam Broucek, Philipp Tagwerker, and Felix Fuith, and Associates Michael Mittermair and Florian Hoellebauer.
The E+H team included Partners Peter Winkler, Josef Schmidt, and Philipp Schrader.