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Bawag: Cerberus Shares Ownership with U.S. Hedge Fund
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The U.S. hedge fund Golden Tree Asset Management becomes a 40% shareholder at the Austrian bank.
Bawag: Cerberus Shares Ownership with U.S. Hedge Fund / Picture: © BAWAG
In return for a capital increase of € 200m, the New York-based investment fund Golden Tree Asset Management gets a 40% stake in Bawag. The capital increase will allow Bawag to comply with the Basel III framework. Bawag´s management did not confirm the deal yet. The negotiations are not finished yet, the bank commented.
However, the Austrian Federal Competition Authority (BWB)…
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