Binder Grösswang Advises Four Styrian Raiffeisen Banks on Acquisition of Branches of Landes-Hypothekenbank Steiermark AG
Binder Grösswang advised four Styrian Raiffeisen Banks on the purchase and takeover of four branches, including customer relations, of Landes-HypothekenbankSteiermark AG. After receipt of the necessary approvals by the Austrian Financial Market Authority (FMA) between Christmas and New Year’s, the transaction was closed on 1 January 2021.
“We are pleased that we were able to support this transaction within the Raiffeisen sector and successfully conclude it on 1 January 2021. The transfer of the customer business in this case involved particular legal and technical challenges,” says Binder Grösswang Partner Michael Binder, who is an expert in banking law and finance.
The core Binder Grösswang team for the transaction comprised partners Michael Binder, Christian Zwick and Gottfried Gassner, as well as Stefan Frank (attorney at law) and Markus Sacherer (associate).
The sellers on the part of Landes-Hypothekenbank Steiermark AG were advised by Saxinger, Chalupsky & Partner Rechtsanwälte GmbH, whose team comprised partners Franz Mittendorfer and Clemens Harsch as well as associate Stephan Pree.