Ithuba Capital AG (“Ithuba Capital“) advised immigon portfolioabbau ag („immigon“, formerly Österreichische Volksbanken AG) on the strategic sale of VB Factoring Bank AG („VBF“) including ist subsidiary, Eurincasso GmbH, to A.B.S. Global Factoring AG. The relevant sale and purchase agreement was executed on 27 August 2015. Closing took place on 21 April 2016.
VBF with its headquarters in Salzburg is one of four factoring banks active in the Austrian market and had total assets of EUR 86 million as at 31 December 2014. Details with regard to the purchase price were not disclosed.
The Ithuba team advising immigon consisted of Thomas Mayer, Sascha Bakry and Peter Bichl.