July 4 (Reuters) – Barclays (BARC.L), opens new tab is selling its German consumer finance business to Austrian bank BAWAG Group AG (BAWG.VI), opens new tab for a small premium to net assets, it said on Thursday, as the British lender aims to simplify its business.
The sale of the Hamburg-based Barclays unit to BAWAG will give the Austrian bank the ability to expand its loan book and customer base in the region.
Reuters had reported last year that BAWAG was a leading contender in bidding that included other European banks and private equity firms
Source: REUTER
