Schoenherr advised immigon portfolioabbau ag ("immigon") (formerly ÖVAG – Österreichische Volksbank AG) on the sale of its 100% shareholding in VB Factoring Bank AG, including the subsidiary Eurincasso GmbH, to Germany's A.B.S. Global Factoring AG. Following the signing of an acquisition agreement on 28 August 2015, the transaction is expected to be concluded in the fourth quarter of 2015, subject to the approval of the authorities responsible and adherence to the contractual agreements. The parties agreed not to disclose the financial terms of the transaction.

Founded 35 years ago, VB Factoring Bank AG has its headquarters in Salzburg and an additional office in Vienna. The company, which currently employs 42 staff, specialises in factoring options for typical medium-sized companies and is currently the fourth-largest factoring service provider in Austria. Following the conclusion of the transaction, VB Factoring will operate as an independent company under the aegis of its new owner and will then be the largest bank-independent factoring service provider in Austria.

The Schoenherr team advising immigon was led by Thomas Kulnigg (partner; Corporate/M&A) and also consisted of Clemens Rainer (attorney; Corporate/M&A), Valentin Menedetter (associate; Corporate/M&A) and Hutan Rahmani (attorney; Banking & Finance/Capital Markets).

Ithuba Capital served as financial advisor to immigon, while PwC Legal advised immigon with regard to matters of German law.

The A.B.S. group was advised by Wiedenbauer Mutz Winkler & Partner Rechtsanwälte GmbH.