Raiffeisen to transfer ownership of Albanian shares to Cembra

TIRANA, Dec. 4- BoA has announced that it has received the request from Raiffeisen Bank and the company “Cembra Beteilingungs GmbH” based in Vienna to transfer the ownership and decision making influence towards the latter. Influencing participation in the management of 70 percent of the shares that Raiffeisen has in Albania of Raiffeisen International BANK-Holding AG, owned by Raiffeisen Zentral Bank. Raiffeisen International Bank-Holding AG, (“RI”), is the only shareholder of Raiffeisen Bank sh.a. Albania, while Raiffeisen Zentralbank Osterreich AG, (“RZB”), owns 70 percent of the shares of RI-s. Based on the prerogatives of the Austrian law the Board of Trustees of
RZB has decided since May to transfer this part of shares to Cembra Beteilingungs GmbH. In September of this year a preliminary agreement has been signed between RZB and Cembra in order for the transfer to take part. This transfer will be done in the form of an investment and without any payment by Cembra and it is considered a restructuring of capital in order to optimize the share holding of RI. In this regard it will not affect and change the management technique of RBZ towards RI. The transfer needs still the approval of BoA before it can be complete and legal.