UNIQA Versicherungsverein Privatstiftung is in advancednegotiations to acquire part of Raiffeisen Zentralbank Österreich AG's stake inUNIQA Insurance GroupAG.
A deal to acquire a 17.64% stake in UNIQA Insurance Group,if reached, would require regulatory approvals. Thetransaction is expected to be implemented in 2016, following which RZB willcontinue to hold around 8.64% of UNIQA Insurance Group.
The intended transaction would have a positive effect onRZB's fully loaded common equity Tier 1 ratio of around 60 basis points and itstransitional CET1 ratio of around 40 basis points. The contemplated transactionis expected to have a negative effect of approximately €130 million on RZB's2016 consolidated profit pursuant to IFRS.
A potential deal comes as RZB attempts to simplify thecorporate structure and adapt the group to mounting regulatory capitalrequirements. The potential price of the transaction was not disclosed.