immigon portfolioabbau ag: Sale of VB Factoring Bank AG successfully closed

  • A.B.S. Global Factoring AG Successfully Takes Over Austrian VB Factoring Bank AG from immigon portfolioabbau ag

     

    German Factoring Provider Continues Along Internationalization Path, A.B.S. Factoring AG in Austria Largest Factoring Provider Independent from Banks

    Wiesbaden/Salzburg/Vienna, April 22, 2016. A.B.S. Global Factoring AG, market leader of the factoring companies in Germany that are independent from company groups and banks, and immigon portfolioabbau ag, Vienna, announced the successful takeover of VB Factoring Bank AG, Salzburg, including the subsidiary Eurincasso GmbH, today. The Austrian Financial Market Authority FMA approved the transaction per notice of April 1, 2016. The enterprise being taken over will in future operate under the name of A.B.S. Factoring AG. In this way, the German company group is successfully continuing along its internationalization track and is active as the sole factoring provider with independent companies in the Germany-Austria-Switzerland zone as well as in Sweden. For immigon the final sale of VB Factoring AG is another step in the successful winding-up program.

    Secure Continuity and Advantages for Customers

    Starting immediately, A.B.S. Factoring AG (formerly VB Factoring Bank AG) will act under the umbrella brand of the A.B.S. group as an independent company with its headquarters in Salzburg and branch office in Vienna and is the largest factoring service provider in Austria which is independent from banks. All contracts of A.B.S. Factoring AG will remain in force even after the takeover. Moreover, as an Austrian bank, A.B.S. Factoring AG will continue to be subject to the supervision of FMA. This ensures consistent continuity in business relations for the clients. The company is now uniting its own factoring know-how from the past 35 years with that of the parent company and profiting from the international orientation, as are its clients. With its products, A.B.S. Factoring AG continues to concentrate on medium-scale businesses. The latter receive a customized, flexible financial product which allows them to implement growth opportunities.

    “With A.B.S. Global Factoring AG we welcome a new owner, who as a major entrepreneur-managed company stands for continuity, a sustainable corporate culture and growth”, says Dr. Gerhard Ebner, Chairman of the Board of A.B.S. Factoring AG.

    “This transaction offers significant advantages for our clients, employees and shareholders. They will all profit from being part of a large, European organization which powers the successful further development in Austria and can serve the clients’ needs in a more flexible, entrepreneurial and efficient manner.”

    Successful Internationalization Track

    The takeover and associated complete coverage of the economically strong zone of Germany, Austria and Switzerland is another important building block in the long-term expansion strategy of the A.B.S. group. With the largest acquisition in the history of the company to date the German A.B.S. Global Factoring AG will also receive an Austrian bank license.

    “We all look forward to our plans for the future. The merger allows us to take better advantage of strategic opportunities in an international environment and to create added value for our clients both in the short-run and in the long-run”, Thorsten Klindworth, founder and Chairman of the Board of A.B.S. Global Factoring AG stresses. “We will continue to successfully consolidate our position as the largest owner-managed factoring institute not dependent on banks in the future.” 

    About A.B.S. Global Factoring AG

    A.B.S. Global Factoring AG was founded in 1996 by Thorsten Klindworth and is regarded today as a market leader among factoring companies in Germany that are independent from company groups and banks. The company recorded revenue of 1,374 billion Euro in 2015. Headquartered in Wiesbaden and with further companies in Switzerland (KMU Factoring AG), Austria (A.B.S. Factoring AG) and Sweden (A.B.S. Factoring AB) the A.B.S. group is represented across Europe. Currently, over 300 companies rely on services by the A.B.S. group. Especially medium-scale companies profit from the company’s full service offer i.a. through receipt of instant liquidity and financial discharge. Through its medium-scale organization and over 35 years of experience in the financing of medium-scale businesses the A.B.S. group can act more flexibly, client-oriented and efficiently than a significant proportion of the competition, thereby competing as the largest group-supported factoring company on the market. For more information go to www.abs-global-factoring.de

    About A.B.S. Factoring AG (formerly VB Factoring Bank AG)

    A.B.S. Factoring AG domiciled in Austria is headquartered in Salzburg and has a branch office in Vienna. The company is the largest factoring service provider in Austria that is independent from banks. In accordance with Austrian regulations A.B.S. Factoring AG has the necessary bank licenses for Austria. Under management of CEOs Herbert Auer and Dr. Gerhard Ebner the company employed a staff of 42 with its subsidiary Eurincasso GmbH, has been active on the market for 35 years and specializes in factoring variants for typical medium-sized businesses. For more information go to www.abs-factoring.at.

    About immigon portfolioabbau ag

    immigon portfolioabbau ag is the successor company of Österreichische Volksbanken AG (ÖVAG). Since the spin-off from ÖVAG on July 4, 2015 immigon is a winding-up company as set out in § 162 Sect 1 BaSAG with the objective of using assets in a structured, active and optimum way and of satisfying the creditors’ claims on time. In 2015 the immigon group carried out over 80 winding-up transactions.

    Press contacts:

    Thorsten Klindworth, CEO, A.B.S. Global Factoring AG, Mainzer Straße 97, 65189 Wiesbaden, Telephone: +49 (0) 611 / 977 10 100, E-Mail: Klindworth@abs-ag.com

    Dr. Gerhard Ebner, CEO, A.B.S. Factoring AG, Thumegger Straße 2, 5033 Salzburg, Telephone: +43 (0) 662 - 623553 - 100, E-Mail: g.ebner@abs-factoring.at

    Agency: Fink & Fuchs Public Relations AG, Stephan Fink, Telephone: +49 (0) 611 / 74 13 1-60, E-Mail: stephan.fink@ffpr.de

    Mag. Thomas Heimhofer, Press spokesman, immigon portfolioabbau ag, Peregringasse 2, 1090 Wien, Telephone: +43 (0) 676 790 7890, E-Mail: thomas.heimhofer@immigon.com