Privatization of Kommunalkredit Starts

Politics ♦ Published: February 4, 2012; 13:16 ♦ (Vindobona)

The sale of the nationalized bank will start in the second half of 2012. For 2011, losses could reach up to € 150m.

Privatization of Kommunalkredit Starts / Picture: © Kommunalkredit

By November, the privatization of Kommunalkredit has been resolved. Now, the sale process begins. First, an investment bank is being searched. In March, the public holding company Fimbag will decide over an appropriate joint lead manager. However, the sale will be finished in the second half of 2012.

For the Austrian state, the timing is not optimal at all. Nevertheless, the…