In October 2008 the five largest Austrian financial institutions (RZB, Bank Austria, BAWAG, Erste Group, Volksbanken) had been asked by the Austrian governement to take over Constantia Privatbank from its previous owner following the collapse of the Immofinanz Group with a view to providing outside liquidity, stabilising the bank and preparing it for a later sale.

RIAG managed to win this challenging sell side mandate against outside competition. The sale process attracted large interest from international private banks, as well as Austrian private investors and resulted in a successful transaction despite difficult market conditions.

The transaction was closed in June, 2010.