Cerberus
Bawag Pays €110M for Separation from Austrian Post
Bawag presents its preliminary figures for 2017. The net profit will amount to 466.6 million euros (-1.4 percent). Due to profits, there will be dividend payments to shareholders. The long-term distribution partnership with Austrian Post is to be terminated.
February 28, 2018
BAWAG PSK Bank Sets-up London Branch Office
BAWAG PSK, the Cerberus and Golden Tree majority-owned Austrian bank, recently opened a branch office in London to help develop "its international business franchise", i.e. corporate finance, specialty finance and commercial real estate finance, Bawag's interim report Q3 2014 shows.
November 13, 2014
Austria: Difficult Market Situation for Selling Bawag
The selling of Bawag PSK proves difficult for its owner which is why an IPO is considered a realistic phasing-out scenario. However, experts doubt that an IPO will be a “highflyer”.
April 24, 2014
Austria: Bawag to Pay Back State Capital
Bawag is expected to pay back the entire public participation captial tomorrow. The assets are urgently required for recapitalizing Austrian problem bank Hypo Group.
March 13, 2014
Hypo Group: Nowotny to Replace Liebscher
After Liebscher, head of Hypo Group’s task force, announced throwing in the towel Nowotny, Governor of the Austrian National Bank (OeNB), will become his successor.
February 22, 2014
Austria: Investment Banker Part of Hypo’s Expert Group
A former investment banker is supposed to support Austrian government in the Hypo Group issue.
February 21, 2014
Bawag: Losses for Cerberus Running into Billions
There are persistent rumors that the U.S. investor may leave the Austrian bank. For Cerberus, Bawag is a disaster.
February 11, 2014
Santander on Circulated Sales Talks: „No Comment“
As reported by Vindobona, Spanish Banco Santander is said to be interest in taking over the fifth largest Austrian lender Bawag. Bawag´s management remains silent on this matter.
February 4, 2014
Santander Interested in Bawag?
The Spanish Banco Santander is said to be interested in Bawag, the German daily “Handelsblatt” reports.
February 3, 2014
Bawag to Be Sold?
According to rumours, the fifth largest Austrian lender may be sold.
January 31, 2014
UniCredit Sells Bad Assets to Cerberus
The majority shareholder of Austrian Bawag acquires a portfolio worth €950m.
December 27, 2013
Bawag Denies Circulated Job Cuts
According to media reports, the Austrian bank plans radical job cuts in 2014. Bawag´s management stressed that the rumors are untrue.
November 7, 2013
Bawag Faces Radical Job Cuts
The Austrian bank implements fierce austerity measures. About a fifth of the jobs may be cut.
November 5, 2013
Bawag Investor Cerberus to Leave?
Rumors have it that US fund Cerberus will sell his share in Austrian bank Bawag. According to head of Bawag, Byron Haynes, a selling process has not yet begun.
October 31, 2013 · Updated: November 5, 2013; 17:30
Austria: Elsner Files Lawsuit in US Supreme Court
Former BAWAG CEO Helmut Elsner filed a lawsuit over $ 1.8bn against members of the Austrian Social Democrat party (SPÖ).
March 7, 2013
Austria: BWB Approves New Shareholder at Bawag
The U.S. investment fund Golden Tree Asset Management becomes the second core shareholder of the Austrian bank.
December 14, 2012
Bawag: Cerberus Shares Ownership with U.S. Hedge Fund
The U.S. hedge fund Golden Tree Asset Management becomes a 40% shareholder at the Austrian bank.
November 19, 2012
Bawag Gets New Owner
In return for a capital increase of € 200m, the U.S. investment fund Cerberus cedes a 33% stake in the Austrian bank.
October 19, 2012
Haynes: Cerberus Supports Bawag
Bawag´s CEO Byron Haynes confirms that the bank will cut jobs. The customer segment should be kept, however. Instead, the cost structure should become more efficient.
September 20, 2012
Bawag to Cut 700 Jobs
The Austrian bank plans to sharpen its austerity program. The private trade segment should be downsized in order to reduce the equity requirement.
September 18, 2012
Bawag May Sell Leasing Unit
The Austrian lender Bawag, which is owned by the U.S. investment fund Cerberus, is said to sell its leasing business.
August 23, 2012
No Merger Between VBAG and Bawag
Bawag´s CEO Byron Haynes reaffirmed that U.S. owned bank is not interested in a merger with the partly nationalized VBAG.
August 6, 2012
Bawag and Generali Extend Cooperation
The Austrian bank, which is owned by the U.S. investment funds Cerberus and Generali agreed on extending the cooperation until 2023.
July 23, 2012
No Future for Schlecker
The insolvent German chemist chain will be closed. Fort he Austrian subsidiary, the search for a buyer goes on.
June 1, 2012
Cerberus May Sell Bawag
Five years ago, the U.S. investment fund Cerberus acquired the financially stricken Austrian Bawag bank. Next week, the retention period expires.
May 12, 2012
Former Bawag CEO Criticizes Cerberus Sharply
Helmut Elsner, former CEO of Bawag, accuses the new owner Cerberus to abuse the bank as “garbage dump” for toxic assets.
April 18, 2012
Bawag to Refund Bank Aid in 2014 by Earliest
The U.S. owned bank was the only one in Austria which could increase its profits last year. The restructuring is successfully completed.
March 17, 2012
Bawag-CEO: “No Exit of Cerberus in 2012”
After five years, a sale of the Austrian bank would become possible next year. The shoe retailer Stiefelkönig will be sold this summer.
June 15, 2011
Bawag: Successful Return to Profitability
The Austrian bank, which is held by the American Cerberus fund, achieved a profit of € 125m in 2010.
March 17, 2011
U.S. Embassy on Hypo Group: "Mini-empire in the Balkans"
New Wikileaks documents indicate that the U.S. Embassy analyzed the symbiosis between the Austrian financial and political scene.
January 27, 2011
Bawag and Post Share 520 Branches
Investments in the common branch network of the Austrian Post and the U.S. fund Cerberus owned Bawag are running.
January 14, 2011
Bawag is Profitable Again
The Austrian bank Bawag PSK, now owned by the U.S. fund Cerberus, is to have profits again this year: € 100m are expected.
December 2, 2010
Bawag and Post Seal Cooperation
BAWAG and the Post want to enter into a symbiosis and create their own nationwide network of branches throughout Austria by 2012.
November 4, 2010
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