Deloitte acted as exclusive financial advisor to Wüstenrot & Württembergische AG on the sale of their Czech building savings bank and mortgage bank to MONETA Money Bank

Deloitte acted as exclusive financial advisor to Wüstenrot & Württembergische AG (W&W) on the sale of their Czech building savings bank and mortgage bank to MONETA Money Bank a.s.

About the transaction

Deloitte successfully advised Wüstenrot & Württembergische AG (W&W) on the sale of 100% of its Czech subsidiaries Wüstenrot – stavebni sporitelna a.s. and Wüstenrot hypotecni banka a.s.

The Deloitte Corporate Finance Advisory Team in Frankfurt, led by Christoph Westphal, was the exclusive M&A sell-side advisor to Wüstenrot & Württembergische AG on the sale of its local building society and mortgage business in the Czech Republic.

The two subsidiaries with around 400,000 customers and almost 300 employees as well as a sales force of around 700 representatives were sold to MONETA Money Bank, a.s., Prague, for EUR 175 million. The balance sheet total of the Czech subsidiaries under IFRS amounts to the equivalent of nearly EUR 3 billion.

In view of the consolidation tendencies on the Czech market, further growth prospects for the two companies will arise under new ownership. With this step, Moneta will increase its retail deposit base by about CZK 55 billion and loan portfolio by CZK 56 billion.

Thanks to the outstanding cross-border cooperation of the Deloitte experts in Frankfurt (lead) and Prague, the competitive sales process led to a timely closing and thus to a satisfactory result for W&W AG.

The deal was operationally supported by Jan Wyrowinski and Nicole Heep (Frankfurt), Roman Lux, Pavel Piskacek, Radovan Danis, Anezka Skokanova and Marie Havlikova (Prague).

The transaction was closed on April 1, 2020.

About the client

Wüstenrot & Württembergische AG (W&W) develops and communicates the four building blocks of modern provision for its approx. six million customers. It combines the business fields of housing, insurance and brandpool. Around 13,000 people currently work for the listed group, which is based in Stuttgart.

About Deloitte – Corporate Finance Advisory

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