Austria: GoldenTree said to acquire controlling stake in Bawag lender

By CPI | November 19, 2012

Austrian lender Bawag CCMLPB.L may sell an additional 30 percent of its stake to hedge fund GoldenTree, based in the U.S., says a source. The deal would give GoldenTree a total of 40 percent control of Bawag, currently owned by Cerberus Capital Management CBS.UL. Austria’s competition Authority has announced it will decide whether to approve of the merger or not by December 14.