Schoenherr has advised Österreichische Volksbanken-AG (OeVAG) on the sale of its fully owned subsidiary Volksbank Malta to Malta-based Mediterranean Bank.
On 11 April 2014, OeVAG and Mediterranean Bank signed a share purchase agreement for 100 per cent of the shares in Volksbank Malta. Closing will take place after the required approvals of the relevant regulatory bodies are received.
The Schoenherr team advising OeVAG was led by Sascha Hödl (partner, corporate/M&A), with the involvement of Roman Perner (partner, corporate/M&A) and assistance from Philipp Kapl (associate, corporate/M&A).
OeVAG also received advice from KPMG Financial Services (Malta and Austria), while Fenech & Fenech Advocates (Valeta) served as legal advisers to Mediterranean Bank.