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Kommunalkredit Sale: Austria Hires Morgan Stanley
Politics ♦
Published: June 6, 2012; 16:40 ♦ (Vindobona)

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The nationalized Austrian lender Kommunalkredit should be sold until 2013. The U.S. investment bank should act as commission agent.

Due to restrictions by the EU, the Austrian state is looking for a new investor for several months. The municipal lender was nationalized in 2008, the maximum retention period is five years. The Austrian government wanted to prevent a collapse of Kommunalkredit after the Lehman crisis in fall 2008. Before, Kommunalkredit was owned by the Belgian Dexia and the Austrian VBAG. In meantime,…
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