CSOB to become the sole owner of Czech building savings bank CMSS after acquiring the 45% stake held by Bausparkasse Schwäbisch Hall
(WorldNews Belgium)

Joint Press Release Outside trading hours - Regulated information* Prague, Brussels, 15 April 2019 - 8 a.m. CEST CSOB to become the sole owner of Czech building savings bank CMSS after acquiring the 45% stake held by Bausparkasse Schwäbisch Hall This morning, CSOB, the Czech division of KBC Group, and Germany`s Bausparkasse Schwäbisch Hall (BSH) reached agreement for CSOB to acquire BSH`s 45% stake in the Czech building savings bank Ceskomoravská stavební sporitelna (CMSS) for a total consideration of 240 million euros, representing a 1.54 multiple of the 2018 standalone net book value and a 9.20 implied multiple of 2018 net profit including discounted 2024 synergies. Parties have agreed...