CAIXABANK, S.A. • As a result of the agreement, CaixaBank will be eligible to nominate a second member of the Supervisory Board of Erste Group as of the 2015 AGM.
CaixaBank, the leading bank in the Spanish market, has renewed the partnership agreement which it has had since 2009 with Erste Foundation, the main shareholder of Erste Group Bank. Under the terms of the renewed agreement, which has been approved by the Austrian regulator, CaixaBank, led by Chairman Isidro Fainé and CEO Gonzalo Gortázar, joins a group of Erste Group Bank's stable shareholders, which also includes a group of savings banks and some of their foundations, as well as the holding WSW. In total, these entities hold a stake of 30% in Erste Group Bank.
This renewed agreement means that CaixaBank, like the other stable partners, will vote in line with the Erste Foundation when electing Supervisory Board members. As of the next Annual General Meeting (AGM), scheduled for 2015, CaixaBank will be eligible to nominate a second member to the Supervisory Board of the Erste Group.
Increase in the stake held by CaixaBank
Furthermore, CaixaBank has increased its stake in the Erste Group Bank from 9.1% to 9.9% after acquiring 3.5 million shares from the Erste Foundation.
Following this acquisition, which was made at market prices, the shareholdings of Erste Foundation's strategic partners are as follows:
Erste Foundation 11.9 %
CaixaBank 9.9 %
Savings Banks and their holding entities 5.2 %
WSW, the holding of insurer VIG 3.0 %
Total stake 30.0 %
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