Sberbank takes Volksbanken to court over VBI sale

Newswire

VIENNA, Nov 29 (Reuters) - Sberbank has taken partially state-owned Austrian lender Volksbanken AG (VBAG) to court in a dispute over the value of the VBI eastern European business that the Russian bank bought last year, VBAG said on Friday. Sberbank paid 505 million euros ($687 million) for Volksbanken International (VBI), but has since complained about the quality of the assets it purchased. Sberbank closed the deal after getting an 80 million euro discount ...

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