Stages in Creditanstalt’s “privatization”

Death of a bank

Death of a bank

The 17-point agreement of January 12

1956 Finance minister empowered to reduce the state’s stake in Creditanstalt (CA) to 60%

1957 Sale of 10% of the capital in common shares and 30% in preference shares

1985 State pours Sch7 billion into CA’s industrial holdings

1987 Finance minister empowered to reduce the state’s share in CA to 51%. Abolition of the Ausländerklausel forbidding the sale of shares to foreigners

1988 Reduction of government’s stake from 60% to 51%.

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