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17th February 2012

Sberbank buys Volksbank International stake from BPCE

Sberbank has purchased the 24.5% stake in Volksbank International owned by BPCE. No price was disclosed for the deal.

BPCE said the disposal met the twin objectives of simplifying the bank's business model with its new focus on Western Europe and helped boost its capital and liquidity levels.

Volksbank International is the Eastern European banking arm of the Österreichische Volksbank.