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Viennese whirl

27 September 2017 By Christopher Thompson

The U.S. buyout firm is planning an IPO of the Austrian lender it bought, damaged by the Refco trading scandal, in 2006. For Cerberus and its partners, it has been a drawn-out turnaround. For new investors, Bawag is temptingly digital and efficient. The caveat: it’s still a bank.

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