UniCredit Assessing Cross-Border Merger of Slovenian, Austrian Activities
May 30 2023 - 07:06AM
Dow Jones News
By Pierre Bertrand
UniCredit on Tuesday said that it has begun the process of
evaluating a possible cross-border merger of some of its activities
in Slovenia and Austria.
Its aim is to set out a new and simpler operating model to
improve upon its services in both countries, UniCredit said in a
statement.
"To this end we are starting the evaluation of a possible
cross-border merger of UniCredit Banka Slovenija d.d. with
UniCredit Bank Austria AG and transformation of UniCredit Banka
Slovenija d.d. to a branch of UniCredit Bank Austria AG," UniCredit
said.
The bank said it would further operate in Slovenia under the
brand name UniCredit Bank.
This evaluation is expected to be completed in the third quarter
of this year and to result in the preparation of a detailed merger
plan, the bank said.
The effort comes as the bank looks to further develop
opportunities in Central Europe as part of its UniCredit Unlocked
strategy, it said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
May 30, 2023 06:51 ET (10:51 GMT)
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