Bawag-CEO: “No Exit of Cerberus in 2012”

Professional ServicesBanks ♦ Published: June 15, 2011; 15:09 ♦ (Vindobona)

After five years, a sale of the Austrian bank would become possible next year. The shoe retailer Stiefelkönig will be sold this summer.

Bawag-CEO: “No Exit of Cerberus in 2012” / Picture: © BAWAG

2012 is the earliest possible date for Cerberus to sell Bawag P.S.K. This was agreed upon in 2007 when the American investment company acquired the Austrian bank. “Cerberus will definitely not exit in 2012 and there will be no sale in the near future”, stated Byron Haynes, CEO of Bawag.

Former Austrian Finance Minister Hannes Androsch, who holds a stake of less than 1% in the…