KBC Group: KBC Announces Sale of KBC Bank Deutschland
(Thomson Reuters ONE) -
Regulated information* - 24 September 2013 (08.00 a.m. CEST)
Press Release
Outside trading hours - Regulated information*
Brussels, 24 September 2013 (08.00 a.m. CEST)
KBC Announces Sale of KBC Bank Deutschland
KBC today announced it has reached an agreement to sell KBC Bank
Deutschland AG, a wholly-owned subsdiary of KBC Bank NV, to several investors
including affiliates of Teacher Retirement System of Texas (TRS), Apollo Global
Management, LLC (NYSE: APO), Apollo Commercial Real Estate Finance, Inc. (NYSE:
ARI), and Grovepoint Capital LLP (Grovepoint).
KBC Bank Deutschland specialises in corporate banking and financial
services for medium-sized German companies. It also provides professional real
estate financing, acquisition finance, institutional asset management and
private wealth management services for German high-net-worth individuals.
The transaction is subject to antitrust and regulatory approval.
Meanwhile, KBC Bank Deutschland, with the support of KBC, remains fully
committed to all its current business activities and serving its customers.
This deal will free up around 0.1 billion euros of capital for KBC,
primarily by reducing risk-weighted assets and will have no material impact on
KBC's financial results. This will result in an improvement of KBC's solvency
position with roughly 15bp.
In November 2009, KBC agreed a strategic plan with the European Commission
that involves refocusing on retail customers, small and medium-sized enterprises
and mid-caps in its core markets of Belgium and Central and Eastern Europe
(Czech Republic, Slovakia, Hungary and Bulgaria), while reducing risk-weighted
assets. As part of this plan, KBC Bank Deutschland was earmarked for divestment,
despite the presence and expertise it has built up. At the same time, KBC
continues to respond to the international banking needs of its corporate
customers outside its home markets through a network of branches and network
desks in a selection of countries, including Germany.
Johan Thijs, CEO of KBC Group NV commented on the transaction: 'With this deal,
the divestment programme KBC has committed to execute is nearly complete. This
agreement also affirms KBC Bank Deutschland's expertise, and will provide
continuity to the bank's staff and customers. I am pleased that under its new
ownership, KBC Bank Deutschland will be able to further enhance its business and
its reputation and continue to deliver high quality service for its customers,
supported by a dedicated staff and our well-reputed brand. At the same time, the
agreement allows KBC to continue supporting its home-market corporate customers
requiring financial services for their German business activities. '
Mr Axel Bartsch, CEO of KBC Bank Deutschland said: 'We are pleased that a period
of uncertainty regarding our future ownership is nearing an end. We have been
very impressed with the depth of knowledge and understanding shown by the bank's
proposed new owners. They understand our heritage, our values and the importance
of high quality service and continuity to our clients. We are excited to be
working with them. '
Note for the editors:
About KBC (www.kbc.com)
KBC is an integrated multi-channel bank-insurance group, catering mainly for
retail, SME and local midcap clients. It concentrates on its home markets of
Belgium and certain countries in Central and Eastern Europe (Czech Republic,
Slovakia, Bulgaria and Hungary). Elsewhere around the globe, the group has
established a presence in selected countries and regions. KBC's headquarters are
located in Brussels (Belgium). The group employs more than 37 000 FTE and is
listed on NYSE Euronext Brussels (ticker symbol 'KBC').
Follow KBC at www.twitter.com/kbc_group
About KBC Bank Deutschland (www.kbcbank.de)
KBC Bank Deutschland is a stand-alone specialised financial institution for
German medium-sized corporate clients (the Mittelstand). The bank is also active
in professional real estate financing, acquisition finance, institutional asset
management and private wealth management for German high-net-worth individuals.
Its foundation dates back to 1863 as a cooperative banking organisation in
Bremen. The bank is specialised in financing and providing financial advice to
the Mittelstand. In 1982, the bank was acquired by the former Kredietbank, which
expanded the bank's network with additional branches in several German major
cities. In 1999, the brand name became KBC Bank Deutschland.
* 180 staff members
* Branches in Bremen (head office), Hamburg, Hannover, Berlin, Düsseldorf,
Frankfurt, Stuttgart and Munich
* Total assets: 2,607 million euros (end 2012)
About TRS (www.trs.state.tx.us)
TRS delivers retirement and related benefits authorised by the Texas Legislature
and manages a 117 billion-dollar trust fund established to finance member
benefits. More than 1.3 million public education and higher education employees
and retirees participate in the system.
About Apollo Global Management (www.agm.com)
Apollo Global Management, LLC (NYSE: APO) is a leading global alternative
investment manager with offices in New York, Los Angeles, Houston, London,
Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under
management of approximately 113 billion US dollars as of 30 June 2013, in
private equity, credit and real estate funds invested across a core group of
nine industries where Apollo has considerable knowledge and resources.
About Apollo Commercial Real Estate Finance, Inc. (www.apolloreit.com)
Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) is a real estate
investment trust that primarily originates, invests in, acquires and manages
performing commercial real estate mortgage loans, subordinate financings, CMBS
and other commercial real estate-related debt investments throughout the U.S.
The company is externally managed and advised by ACREFI Management, LLC, a
Delaware limited liability company and an indirect subsidiary of Apollo Global
Management, LLC, a leading global alternative investment manager with
approximately 113 billion US dollars of assets under management at 30 June 2013.
About Grovepoint Capital (www.grovepoint.co.uk)
Grovepoint Capital LLP was founded in 2010 as a specialist private investment
firm for sophisticated investors. It operates through three business units,
namely Investment Management, Principal Investments and Specialist Lending.
Grovepoint Investment Management, manages investments for pension funds,
financial institutions, family offices and high net worth individuals, offering
its clients specialised opportunities and bespoke portfolio management services.
Grovepoint Capital operates as a partnership that has been founded on a set of
values that are fundamental to the way it does business. Grovepoint is
authorised and regulated by the UK's Financial Conduct Authority (FCA).
For more information, please contact:
Wim Allegaert, General Manager, Investor Relations, KBC Group
Tel +32 2 429 50 51 - E-mail: wim.allegaert(at)kbc.be
Viviane Huybrecht, General Manager, Corporate Communication/Spokesperson, KBC
Group
Tel +32 2 429 85 45 - E-mail: pressofficekbc(at)kbc.be
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* This news item contains information that is subject to the transparency
regulations for listed companies.
-----------------------------+----------------------+--------------------------
| |
KBC Group NV | |
Havenlaan 2 - 1080 Brussels |Press Office |KBC press releases are
Viviane Huybrecht |Tel. +32 2 429 65 01 |available at www.kbc.com
General Manager |Tel. +32 2 429 29 15 |or can be obtained by
Corporate |Fax +32 2 429 81 60 |sending an e-mail to
Communication/Spokesperson |E-mail: |pressofficekbc(at)kbc.be
Tel. +32 2 429 85 45 |pressofficekbc(at)kbc.be |
| |Follow us on
| |www.twitter.com/kbc_group
-----------------------------+----------------------+--------------------------
* This news item contains information that is subject to the transparency
regulations for listed companies.
KBC_Bank_Deutschland_divestment_ENG.pdf:
http://hugin.info/133947/R/1730733/578454.pdf
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Source: KBC Groep via Thomson Reuters ONE
[HUG#1730733]
Unternehmensinformation / Kurzprofil:
Datum: 24.09.2013 - 08:00 Uhr
Sprache: Deutsch
News-ID 299418
Anzahl Zeichen: 10152
contact information:
Town:
Brussels
Kategorie:
Business News
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