CSOB secures majority stake at OB Heller Factoring
Ceskoslovenská obchodní banka (CSOB) has acquired from NMB-Heller Holding 50 per cent of factoring company OB Heller and has become the sole owner of the firm. The transaction is being reviewed by the Anti-monopoly office of the Czech Republic. After its approval, the agreement of both companies will come into force. Te cost of the acquisition has not been published, said the spokesperson of the CSOB Bank, Milan Tomanek. CSOB is expanding in the Czech market. Recently it gained the Hornický penzijní fund for more than Czk200 m, and it is now completing the acquisition of the Zemský penzijní fund. The CSOB Group was also interested in the acquisition of eBanka. The opportunity to enlarge the empire gives the CSOB Bank good financial results. Its consolidated profit rose by 50 per cent to Czk10.3bn (€360m) last year on a year-on-year basis.
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