Bawag: Cerberus Shares Ownership with U.S. Hedge Fund

Businessn.a. ♦ Published: November 19, 2012; 16:25 ♦ (Vindobona)

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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