Bawag Gets New Owner

Businessn.a. ♦ Published: October 19, 2012; 21:01 ♦ (Vindobona)

In return for a capital increase of € 200m, the U.S. investment fund Cerberus cedes a 33% stake in the Austrian bank.

Bawag Gets New Owner / Picture: © BAWAG

The New York-based investment fund Golden Tree enters Bawag, the Austrian news agency “Standard” reports. Golden Tree´s share in Bawag will reach 33%. The Austrian Financial Market Authority FMA has to approve the deal.

In return for the 33% stake, Bawag´s equity will be increased. Golden Tree injects € 200m in Bawag, “Standard” reports. After the deal, Cerberus´…