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Credit Suisse, Deutsche Bank to Bid for Austrian Private Bank?

Stephen Harris 17 April 2008

Credit Suisse, Deutsche Bank to Bid for Austrian Private Bank?

Credit Suisse and Deutsche Bank are two of the major companies on the list of possible bidders for the Austrian private bank Constantia, according to Thomson Financial quoting the Viennese business daily WirtschaftsBlatt. If the sale is aimed at completion in May 2008 as reported, the vendors must decide soon to whom to grant access to the books for due diligence purposes. Constantia is seen as likely to sell its banking and real estate divisions separately, with the value of the banking assessed at €200 million (about $320 million).

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