AUSTRIA – Bidders for BAWAG drop to four

The number of bidders for Austria’s fourth largest bank in terms of volume of assets has dropped to four after the latest round in the auction process, according to press reports. It is understood that the remaining parties include German bank BayernLB and US private equity companies Lone Star and Cerberus Capital Management. German insurer Allianz SE has pulled out of the competitive process quoting issues relating to pricing levels.