W&W AG sells Wüstenrot Bank AG Pfandbriefbank to BKB.

W&W AG, a German financial services group, sells its subsidiary Wüstenrot Bank AG Pfandbriefbank to BKB, which provides various banking products and services for corporate and private customers in Germany, France, Italy, Austria, Spain, Luxembourg, and Great Britain. Financial terms were not disclosed. W&W AG, which until now has held 100% of the shares of Wüstenrot Bank, had explored future options for the institution over the course of 2017, without any preconceived notions as to the outcome, in order to open up greater growth opportunities for it. The ownership structure of Wüstenrot Bausparkasse AG, which is affiliated with Wüstenrot Bank, will not be affected by the current transaction.