6. Würth Group Takes a Stake in the Bankhaus Bodensee
Trade company from Künzelsau acquires 44.76 % of shares
Künzelsau/Hohenlohekreis. The Würth Group is new shareholder in the International Bankhaus Bodensee AG (IBB) and has bought 40 % of the shares of the Landesbank Baden-Württemberg (LBBW). In addition the Würth Group has acquired further 4.76 % from the Vorarlberger Landes- und Hypothekenbank so that the Würth Group disposes of all in all 44.76 % of the shares. In the meantime the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has agreed with the sales of shares to the Würth Group.
In 2006 the Würth Group has the option to gain another around 40 % which means that Würth would hold almost 90 % of the shares. By having taken over the LBBW shares Würth strengthens its still young up-coming financial service sector. “For the Würth Group the stake in the Bankhaus Bodensee means an important element to build up a mainly independent financial service sector” explains Prof. Dr. h. c. Reinhold Würth, Chairman of the Advisory Board of the Würth Group. Joachim E. Schielke, Member of the Board of Management of LBBW and also Chairman of the Supervisory Board of IBB, said on the sales of the shares: “With the Würth Group we have succeeded in finding a renowned and reliable vendee for the International Bankhaus Bodensee. The highly successful Würth Group perfectly fits to the orientation of IBB.”
The International Bankhaus Bodensee AG was founded in 1996 among others by the Landeskreditbank Baden-Württemberg (L-Bank), a predecessor institute of LBBW. The core business of the Bankhaus in the centre of the Lake Constance Region where three countries meet includes investment management, small- to medium-sized corporate banking and construction finance. Apart from Friedrichshafen IBB is represented in three other towns at Lake Constance: in Überlingen, Radolfzell and Constance. With a balance sheet total of around 415 million Euro and 80 employees the Bankhaus concentrates on consultation-intensive services and individual tailor-made products. In the business year 2004 the still young bank, which is celebrating its 10th jubilee next year, increased the pre-tax profit for the year by 18 percent to 1.69 million euro.