SIX Group AG agreed to acquire PayLife Bank GmbH from Erste Group Bank AG (WBAG:EBS), UniCredit Bank Austria AG, Raiffeisen Zentralbank Oesterreich AG, BAWAG P.S.K., Oberbank AG (WBAG:OBS) and Österreichische Volksbanken-Aktiengesellschaft (WBAG:VBPS) on January 29, 2013. All the sellers have not agreed to the deal yet. As of March 18, 2013, Raiffeisen Zentralbank agreed to sell its stake.

As of March 22, 2013, Erste Group Bank AG (WBAG:EBS), UniCredit Bank Austria AG and BAWAG P.S.K agreed to sell their stake. The deal is expected to close in mid year. UniCredit CAIB AG acted as financial advisor for BAWAG P.S.K., Erste Group Bank, Österreichische Volksbanken-Aktiengesellschaft, Oberbank AG and UniCredit Bank Austria. Lazard Ltd. (NYSE:LAZ) acted as the financial advisor to SIX Group AG. Binder Grösswang acted as legal advisor SIX Group. Markus Fellner, Johannes Schmutzer, Florian Kranebitter and Ivana Dzukova Fellner Wratzfeld & Partners acted as the financial advisor for the sellers.