The licences of Raiffeisen Salzburg Invest Kapitalanlage GmbH (now Raiffeisen Salzburg Invest GmbH) to conduct banking business requiring a licence pursuant to Article 1 para. 1 no. 13 BWG in conjunction with Article 5 para. 1 InvFG 2011 as well as for the management of alternative investment funds (AIFs) pursuant to the AIFMG have lapsed following the absorption following a demerger of its banking business sub-unit for fund management (UCITS and AIFs) into Raiffeisen Kapitalanlage-Gesellschaft m.b.H. pursuant to Article 7 para. 1 no. 6 BWG.