Government Puts Kommunalkredit for Sale

Professional ServicesBanks ♦ Published: July 26, 2012; 19:36 ♦ (Vindobona)

The nationalized Austrian lender Kommunalkredit should be sold until 2013. Offers must be to submit to Morgan Stanley until August 16.

Government Puts Kommunalkredit for Sale / Picture: © Kommunalkredit

Today, the publicly held Fimbag (Finanzmarktbeteiligung AG) has officially listed the lender for sale. Fimbag may extend the deadline or stop the process. In 2008, Kommunalkredit was nationalized. Before, Kommunalkredit was owned by the Belgian Dexia and the Austrian VBAG. In meantime, VBAG is itself partly nationalized.

Due to restrictions by the EU, the Austrian state is…