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10.09.2018 – 17:22

Österreichische Post AG

EANS-Adhoc: AUSTRIAN POST PLANS FINANCIAL SERVICES PARTNERSHIP WITH FINTECH GROUP AG OF GERMANY

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  Disclosed inside information pursuant to article 17 Market Abuse Regulation
  (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
  The issuer is responsible for the content of this announcement.
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Joint Ventures/Cooperation/Collaboration
10.09.2018

Vienna -

* NEW FINANCIAL SERVICES OFFERING OF AUSTRIAN POST IN PREPARATION
* FOUNDING OF A 50/50 JOINT VENTURE WITH FINTECH GROUP AG
* AUSTRIAN POST ACQUIRES 7% STAKE IN FINTECH GROUP AG


Austrian Post has been offering financial services for many years via its branch
network consisting of 433 company-operated branch offices and 1,351 postal
partners. Financial services should continue to be an integral part of Austrian
Post's service offering even after termination of the cooperation with the
company's previous banking partner BAWAG P.S.K. by the end of 2019.

Today's meeting of the Supervisory Board of Austrian Post laid the foundations
for creating future comprehensive financial services offering in the branch
network in cooperation with FinTech Group AG of Germany. The objective is to
offer attractive banking products tailored to the needs of private customers.
For this purpose, Austrian Post and FinTech Group AG will establish a 50/50
joint venture. FinTech Group Bank AG will contribute its Austrian branch which
has been operating successfully for more than eight years including its approx.
30,000 customers to the joint venture, subject to the approval of the relevant
supervisory authorities. After being granted a banking license, the joint
venture company will offer banking services in Austria and will be provided with
equity capital of more than EUR 200m. The joint venture company will source IT
services from FinTech Group AG and leverage distribution services and
infrastructure provided by Austrian Post.
To underline the sustainable orientation of this partnership Austrian Post will
acquire a 7% stake in FinTech Group AG and get a seat on the FinTech Group
Supervisory Board. FinTech Group will issue 1,225,761 new shares under exclusion
of subscription rights in the total amount of around EUR 35m. These shares will
be acquired by Austrian Post.

FinTech Group AG is a modern smart bank headquartered in Germany. On the one
hand, FinTech Group AG offers innovative IT solutions and services for financial
service providers, including its own core banking systems. On the other hand,
its retail brand flatex has ranked among the market and innovation leaders for
years on the German and Austrian B2C online brokerage market.




Further inquiry note:
Ingeborg Gratzer
Head of Press Relations & Internal Communications
Austrian Post
Tel.: +43 (0) 57767-32010
ingeborg.gratzer@post.at

Harald Hagenauer
Head of Investor Relations, Group Auditing & Compliance
Austrian Post 
Tel.: +43 (0) 57767-30400
harald.hagenauer@post.at

end of announcement                         euro adhoc
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issuer:       Österreichische Post AG
              Rochusplatz  1
              A-1030 Wien
phone:        +43 (0)57767-0
FAX:          
mail:      investor@post.at
WWW:       www.post.at
ISIN:         AT0000APOST4
indexes:      ATX
stockmarkets: Wien
language:     English
 

Original content of: Österreichische Post AG, transmitted by news aktuell