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AUSTRIA – BAWAG to sell its Eastern European assets

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According to reports in the Austrian press, BAWAG, a Cerberus portfolio company, is looking to sell its Czech and Slovakian units.

Chief executive Ewald Nowotny and board members Jochen Bottermann and Alois Steinbichler reportedly stated that Istrobanka in Slovakia and BAWAG Bank CZ in the Czech Republic are being put up for sale, as neither bank had a market share of more than 5% in their respective countries. BAWAG had previously indicated its intentions to sell off its non-banking investments and holdings.
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