For greater than 5 years, the three-bank group (Oberbank, BTV, BKS) and the Italian Unicredit have been preventing in numerous courtroom circumstances. On Friday, the events have been served with a ruling from the Vienna Greater Regional Court docket (OLG) by which the Linz-based Oberbank and its sister banks have been discovered to be proper within the second occasion.
The Greater Regional Court docket has thus confirmed the choice of the Takeover Fee from November. Based on Oberbank, Unicredit wished to make sure that the syndicates arrange on the three banks weren’t entitled to vote on the common conferences: “On this case, Unicredit, as the biggest single shareholder, would have the say and will take over the three banks.” The syndicates protected towards such a takeover, with which Unicredit wished to get rid of profitable opponents.
“Unicredit has as soon as once more been rebuffed within the takeover proceedings,” says Oberbank Normal Director Franz Gasselsberger: “This determination by the Vienna Greater Regional Court docket is certainly one of a collection of authorized defeats for Unicredit.” In August 2023, the Supreme Court docket (OGH) had made a legally binding determination in favor of the three banks in one other line of motion. Another proceedings are at present on maintain as a result of the legally binding determination within the takeover proceedings is awaited.
The Greater Regional Court docket has solely allowed a rare enchantment to the Supreme Court docket. Unicredit Financial institution Austria introduced: “We’re inspecting this.”
As reported, Unicredit has additionally commissioned Oberbank to sue its administration over a share deal. A listening to date has now been set for September.
Writer
Alexander Zens
Editor Enterprise
Alexander Zens
