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Bawag: Losses for Cerberus Running into Billions

Published: February 11, 2014; 07:17 · (Vindobona)

There are persistent rumors that the U.S. investor may leave the Austrian bank. For Cerberus, Bawag is a disaster.

Bawag: Losses for Cerberus Running into Billions / Picture: © European Commission

The Austrian lender faces a change of control. Insiders report that the U.S. investment funds Cerberus and Golden Tree have nothing else to gain.

In 2006/07, Cerberus acquired the former trade union-held bank. In 2012, Golden Tree entered the stage. At the moment, Cerberus controls 52% of Bawag´s shares. Golden Tree has a 39% interest in Bawag.

According to market rumors,…

This article includes a total of 474 words.

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