22.12.2023

Anadi Bank is transferring its Carinthian branches with some 42,000 retail customers, 250 SME customers and a customer business volume of close to EUR 1.7 billion to Bank Burgenland of the GRAWE banking group. The strategic objective is a demerger of the relevant business segment of Anadi Bank to Bank Burgenland.

Binder Grösswang comprehensively advised Anadi Bank on the sale process. “We are pleased that we were able to successfully support Anadi Bank on this important strategic step,” says Binder Grösswang Partner Stephan Heckenthaler.

The contracts were signed by Bank Burgenland and Anadi Bank on 21 December 2023. The closing of the transaction, which is subject to the customary regulatory and competition law approvals, including that of the Austrian Financial Market Authority (FMA), is expected to take place in September 2024.

After the transaction is completed, Anadi Bank will focus on the business areas of digital banking and public finance, both of which will continue to be managed from Anadi Bank’s headquarters in Klagenfurt, and on its corporate business, which will be managed from the Vienna office. The digital business also includes Anadi Connect, a mobile sales cooperation with Austria's independent financial service providers, and MARIE, a cooperation with Austria's tobacconists. The customers of these business areas will not be affected by the transfer of the branch network and the majority of the SME business.

With this transaction, Binder Grösswang has once again demonstrated its comprehensive expertise in dealing with complex projects at the interface of banking supervisory law and company law.

The Binder Grösswang deal team comprised Stephan Heckenthaler (partner, banking & financial services), Thomas Schirmer (partner, corporate/M&A) and Mona Holzgruber (attorney, corporate/M&A). Further members of the advisory team were Stefan Frank (partner, banking & finance), Miriam Broucek (attorney, banking & financial services), Philipp Tagwerker (attorney, capital markets), Felix Fuith (attorney, corporate/M&A), Michael Mittermair (associate, corporate/M&A), Florian Höllebauer (associate, corporate/M&A) and Christine Dietz (partner, competition law).

The GRAWE banking group was advised by E+H Rechtsanwälte (Peter Winkler, Josef Schmidt and Philipp Schrader).