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Austria is Liable for Hypo Group´s Major Loan

Published: July 27, 2012; 12:55 · (Vindobona)

At the sale of Hypo Group by BayernLB in late 2009, BayernLB granted a loan of € 2.64bn. The Austrian state has issued a guarantee for this loan.

Austria is Liable for Hypo Group´s Major Loan / Picture: © BayernLB

In December 2009, Hypo Group became nationalized. After having suffered severe losses, BayernLB sold the financially stricken bank to the Austrian state. BayernLB granted a loan of € 2.64b to its former subsidiary. The new owner issued a guarantee. This guarantee should become effective if Hypo Group would be sold or if the restructuring process fails.

Now, the Hypo Group…

This article includes a total of 210 words.

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