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Credit Suisse and Deutsche Bank may bid for Constantia Privatbank

Credit Suisse Group and Deutsche Bank are among some of the major companies that figure in the list of prospective bidders for the Austrian financial organization, Constantia Privatbank, reported Thomson Financial, citing WirtschaftsBlatt, the Viennese business daily, as its original source.

Previously published reports claimed that Credit Suisse had joined the bidders’ race for an unnamed third party, which intends to buy the retail customer and fund management businesses of Constantia.

The sale is scheduled to be concluded in May 2008. However, the owners of Constantia will reportedly decide soon who amongst the prospective buyers will be allowed to enter the bank’s data room to conduct due diligence.

According to the business daily, Constantia is likely to sell its banking and real estate divisions separately and expects the banking division to fetch E200 million.

It is claimed that the combined values of the bank’s real estate business, comprising the management contracts it has with the property development companies Immoeast and Immofinanz, are estimated at E800 million.