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Austria: FMA Approves of Sale of Hypo Group

Published: October 9, 2013; 13:29 · (Vindobona)

The Financial Market Authority has given green light for the selling of Austrian problem bank Hypo Alpe Adria to Indian Srei Group.

Austria: FMA Approves of Sale of Hypo Group / Picture: © Hypo Alpe-Adria-Bank International AG

According to a spokesman of the authority, a notification of non-prohibition was issued on Tuesday. The deal is supposed to be finished by the end of the year.

Anadi Financial Holdings of Indian/British entrepreneur Sanjeev Kanoria pays € 65.5m for the bank stores in the province of Carinthia, Vienna and Salzburg. The company regards the approval of the Financial Market…

This article includes a total of 89 words.

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