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Austria: BWB Approves New Shareholder at Bawag

Published: December 14, 2012; 22:42 · (Vindobona)

The U.S. investment fund Golden Tree Asset Management becomes the second core shareholder of the Austrian bank.

Austria: BWB Approves New Shareholder at Bawag / Picture: © BAWAG

Today, the Austrian Federal Competition Authority BWB confirmed that the U.S. investor is entitled to become a shareholder of Bawag. As reported by Vindobona, Golden Tree will take over a 39% interest in the bank in return for a capital increase of € 200m. The capital increase will allow Bawag to comply with the Basel III framework. Cerberus will remain the major shareholder. After…

This article includes a total of 251 words.

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