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Monday, February 7, 2011

Sberbank in hunt for Volksbanken VBI unit -sources

Russia's Sberbank (SBER03.MM) is among three potential buyers eyeing Austrian lender Oesterreichische Volksbanken AG's VBI eastern European arm, sources close to the matter said. Oesterreichische Volksbanken AG (OTVVp.VI), Austria's fourth-biggest lender, in December last year put its 51 percent stake in Volksbanken International and its sister leasing business up for sale. [ID:nLDE6B61NG] France's Banque Populaire Caisse d'Epargne and Germany's DZ Bank/WGZ Bank each own 24.5 percent of the unit. "We understand that a 100 percent potential sale is on the table, subject to valuation," one of the sources said. A deal might emerge by mid-year, another source said.

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