Sale of Kommunalkredit to Collapse?
The sale of the Austrian nationalized bank is everything but successful. The sale will have to be postponed again.
Sale of Kommunalkredit to Collapse? / Picture: © Vindobona.org
Four years ago, Kommunalkredit was close to insolvency. In 2008, the bank was sold by VBAG and Belgian Dexia for € 250m. As the retention period is five years the closing must take place until the end of June 2013. Since summer 2012, the Austrian state is seeking a buyer for Kommunalkredit. However, the sale had to be postponed already in December. The privatization did not go…
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