Raiffeisenbank acquisiton of Citibank's Czech retail banking and credit card business

1/3/2016

Public acquisition

Status:

Completed

Date:

1/3/2016

Overview:

Raiffeisenbank acquired the Czech retail banking and credit card business of Citibank for an undisclosed fee.
Raiffeisenbank is fifth biggest bank in the Czech Republic and the Czech subsidiary of Austria's Raiffeisen Bank International.
In 2014 Citibank announced it would be exiting consummer banking in 11 markets.

Kurt Stumpo - Journalist

Jurisdiction:

Czech Republic

Deal type:

Public acquisition

Practice area:

M&A

Governing law:

Czech Republic

Industry sector:

Banking

Firms:

Clifford Chance

Party: Citibank (Seller)

Lawyer: Alex Cook

Havel & Partners

Party: Raiffeisenbank (Acquirer)

Lawyer: Jaroslav Havel

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