The EBRD has reorganised its share ownership in Addiko Bank AG. It has swapped its indirect stake in the bank, which it held via a private special purpose vehicle, with a direct stake.
As a result, the EBRD will now own a stake of approximately 8.4 per cent of Addiko, a regional financial group operating in south-eastern Europe and headquartered in Vienna, focusing on retail clients and offering advanced technological solutions such as digitalised banking services.
The reorganisation follows recent changes in the ownership of Addiko. The EBRD’s move underlines its long-term commitment to the bank.
The bank was established in the course of the resolution of the nationalised Austrian lender Hypo Alpe Adria Group and acquired by Advent International, a global private equity firm, and the EBRD in December 2014.
Following the bank’s successful restructuring and the reorientation of its business, Addiko was returned to the market with an IPO in June 2019.