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EU clears acquisition of Austria's Valida, RZB

Xinhua, August 27, 2015 Adjust font size:

The European Union (EU) on Thursday approved under the bloc's merger regulation the acquisition of Valida by Raiffeisen Zentralbank Osterreich (RZB), both Austrian companies.

RZB is the central institution of the Raiffeisen Banking Group Austria which is active in financial services. Valida offers company pension plans in Austria.

EU concluded that the case would not raise competition concerns "because the companies' activities do not overlap." Endit