Fellner Wratzfeld & Partners (fwp) provided legal advice to the Austrian bank BAWAG P.S.K. in the course of the negotiations for state aid. After several months of negotiations and approval by the EU Commission the agreements were signed recently.
BAWAG P.S.K. is receiving a capital injection of EUR 550 million and a state guarantee in the amount of EUR 400 million securing claims against subsidiaries. The Republic of Austria has subscribed the entire capital injection of EUR 550 million. BAWAG P.S.K. is entitled to sell participation certificates with a total value of EUR 165 million to third parties by a specified deadline.
fwp will also advise BAWAG on amending the restructuring plan as demanded by the EU Commission.
Banking & finance expert Markus Fellner and his team advised on the transaction.