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Article: Austrian BAWAG to receive state support, may face partial nationalisation.
- Article from:
- ADP News Austria
- Article date:
- August 25, 2009
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(ADPnews) - Aug 25, 2009 - Austrian bank BAWAG PSK, owned by US Cerberus, is to receive a capital injection from the state of some EUR 550 million (USD 786.198m) provided it accepts the equity conversion conditions in case of delinquency.
This means that the bank may have to face a partial nationalisation if the due interest on the state money is not paid in two consequent years, news ...
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