VOLKSWAGEN FINANCIAL SERVICES AG: Reorganization of Volkswagen Financial Services Group
Today, the supervisory board of Volkswagen Financial Services AG approved a reorganization measure of the Volkswagen Financial Services Group. Volkswagen Bank GmbH, which is currently a subsidiary of Volkswagen Financial Services AG, shall become a direct subsidiary of Volkswagen AG by way of a spin-off, providing consolidation of banking activities relevant to European Central Bank authority and allowing for the separate regulation of European banking activities from other financial services provided by the Volkswagen Financial Services Group. The aim of such reorganization is improved transparency for the regulatory authority and increased efficiency. The implementation of this measure is subject to the approval of the supervisory board of Volkswagen AG.
Contact person: Marc Schwekendiek, General Counsel
01.11.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language: English Company: VOLKSWAGEN FINANCIAL SERVICES AG Gifhorner Str. 57 38112 Braunschweig Germany Phone: +49 (0)531 / 212-3888 Fax: +49 (0)531 / 212-3531 E-mail: email@example.com Internet: www.vwfs.de ISIN: XS1216646825, XS1216647716 WKN: 780515 , 780516 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Open Market in Frankfurt; Mailand, Luxemburg End of Announcement DGAP News-Service