Bawag bags Depfa

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By Bill Thornhill
16 Feb 2021

The Austrian covered bond issuer Bawag has bought Depfa Bank from the German wind-down agency, FMS Wertmanagement.

The German state-owned entity responsible for winding down German financial institutions, FMS Wertmanagement (FMS-WM), announced it will sell its 100% stake in Ireland’s Depfa Bank to Austrian lender Bawag, subject to the approval of its supervisory board and the Federal Agency for Financial Market Stabilisation (FMSA).

“The sale ...

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