Austria: Difficult Market Situation for Selling Bawag

People ♦ Published: April 24, 2014; 13:18 ♦ (Vindobona)

The selling of Bawag PSK proves difficult for its owner which is why an IPO is considered a realistic phasing-out scenario. However, experts doubt that an IPO will be a “highflyer”.

Experts point out the difficult market situation to sell a bank for more than its book value. / Picture: © BAWAG

The co-owners of Bawag PSK, the US-funds Cerberus and Golden Tree, are seriously considering getting rid of the Austrian bank. While the most recent rumors about selling the financial institute have up to now been persistantly negated now a going public is considered an alternative since selling the financial institute proves difficult. As reported by US news agency Bloomberg, Bawag PSK…