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Kommunalkredit Sale: Austria Hires Morgan Stanley
Politics ♦
Published: June 6, 2012; 16:40 ♦ (Vindobona)
The nationalized Austrian lender Kommunalkredit should be sold until 2013. The U.S. investment bank should act as commission agent.
Kommunalkredit Sale: Austria Hires Morgan Stanley / Picture: © Vindobona.org
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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