FRANKFURT, Germany (Reuters)—Austrian bank Bawag PSK is getting a €200 million ($264.42 million) capital injection from shareholders and investors, boosting its core equity ratio around 10.3 percent by end of this year from 7.8 percent last year, it said on Friday [Dec. 28].

Under the deal, private equity firm Cerberus Capital Management will remain the controlling shareholder, owning around 52 percent stake, while U.S. hedge fund Golden Tree Asset Management will hold around 39 percent interest, it said.

Austria’s competition regulator said on Dec. 12 it planned to allow Golden Tree to raise its stake in Bawag PSK to up to 40 percent from almost 10 percent.

By Marilyn Gerlach

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