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08.04.2019 – 21:08

Österreichische Post AG

EANS-Adhoc: AUSTRIAN POST TAKES AN IMPORTANT STEP IN CREATING A NEW FINANCIAL SERVICES OFFERING

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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
08.04.2019

Vienna -

* Subject to regulatory approval, Austrian Post will acquire an 80% stake in
  Brüll Kallmus Bank, part of the GRAWE Banking Group
* Accordingly, the legal foundation for an independent and nationwide financial
  services offering has been laid
* Under the leadership of Austrian Post, the service offering will be built up
  in collaboration with GRAWE Group and other partners


Austrian Post and GRAWE Banking Group have agreed to enter into a partnership to
build up a focused financial services business in Austria.

It is planned for Austrian Post to acquire 80% of Brüll Kallmus Bank AG, part of
the GRAWE Banking Group, by means of a capital increase and thus assume
management control of the company. Ownership control procedures were initiated
today with the European Central Bank (ECB) through the Austrian Financial Market
Authority (FMA). Subject to regulatory approval, Austrian Post will subsequently
contribute about EUR 56m within the context of a capital increase. In this way,
the legal foundation for creating an independent service offering will be
created.

This partnership bundles the sales strength of Austrian Post based on its
nationwide network with the banking and insurance know-how of the GRAWE Group.
According to plan, financial services will be offered in the course of the year
2020. The underlying objective is to be present both online and physically. The
Austrian Post network of 1,800 postal services points consisting of company-
operated branch offices and postal partners comprises an outstanding basis for
this purpose.

As it has up until now, Austrian Post would like to continue offering nationwide
financial services throughout Austria to its customers. The business model will
be designed to be focused and risk-averse and concentrate on services relating
to bank accounts and payment transactions. Financial services of other partners
will round off the product portfolio. Information on the precise service
offering and the market presence will be disclosed in due time.

Austrian Post expects start-up costs to arise over the first three years within
the context of developing a new offering of financial services and positive
earnings contributions afterwards.




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

Harald Hagenauer 
Head of Investor Relations, Group Auditing & Compliance
+43 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