Bawag Is Said to Emerge as Frontrunner to Buy German-Owned Depfa
- Austrian lender negotiating deal for public sector financier
- Kommunalkredit, LBBW had earlier studied Irish business
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Austrian lender Bawag Group AG is emerging as the frontrunner to acquire Depfa Bank Plc, the public sector financier being sold by Germany, people with knowledge of the matter said.
FMS Wertmanagement, the state-owned bad bank that controls Dublin-based Depfa, is negotiating terms of a deal with Bawag, according to the people. No final agreements have been reached, and another winner could still emerge, the people said, asking not to be identified because the information is private.