Further to the announcement dated 8th March 2022 regarding the proposed acquisition of Sparkasse (Holdings) Malta Ltd. (“Sparkasse Holdings”), the parent of Sparkasse Bank Malta plc (“Sparkasse Bank”), by Merkanti Holding p.l.c., we wish to inform you that Merkanti Holding p.l.c. has issued a company announcement dated 24th July 2023 on the matter. Merkanti Holding p.l.c. stated in its company announcement that it entered into an agreement with Anteilsverwaltungssparkasse Schwaz to mutually terminate the share purchase agreement (SPA) to acquire Sparkasse Holdings. Consequently, the transaction will not close.
As a result of the decision not to proceed with the transfer of shares in Sparkasse Holdings, Sparkasse Bank and Merkanti Bank Ltd. will not pursue the merger of both banks. This conclusion was reached amicably.
Sparkasse Bank will carry on with its business uninterruptedly and continue to develop organically both locally and in Ireland. Sparkasse Bank has the full support of its shareholders, management and staff and will continue to thrive in providing banking, investment and depositary services as it has done successfully for the past 23 years.
Sparkasse Bank Malta plc
As a result of the decision not to proceed with the transfer of shares in Sparkasse Holdings, Sparkasse Bank and Merkanti Bank Ltd. will not pursue the merger of both banks. This conclusion was reached amicably.
Sparkasse Bank will carry on with its business uninterruptedly and continue to develop organically both locally and in Ireland. Sparkasse Bank has the full support of its shareholders, management and staff and will continue to thrive in providing banking, investment and depositary services as it has done successfully for the past 23 years.
Sparkasse Bank Malta plc