Start:Bausparkasse AG changes its owner.
BAWAG has sold the German Start:Bausparkasse AG (formerly Deutscher Ring Bausparkasse) to Wüstenrot Bausparkasse AG, which is part of the Wüstenrot & Württembergische Group. Subject to the approval of the antitrust and regulatory authorities, the transaction is expected to be completed in the course of 2024. The parties have agreed not to disclose the purchase price, BAWAG announced on Friday after the stock market closed.
At the end of 2022, Start:Bausparkasse in Germany had total assets of 0.5 billion euros. According to BAWAG, Start:Bausparkasse AG in Germany is completely independent of Start:Bausparkasse AG in Austria, which remains part of the Retail & SME business area.
The BAWAG share lost 1.31 percent to 46.62 euros on Friday evening via Tradegate, while Wüstenrot shares gained 1.52 percent to 13.34 euros.
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Image sources: Alexandros Michailidis / Shutterstock.com, Wüstenrot & Württembergische AG