BayernLB Bought Hypo Group Alpe Adria above Value

People ♦ Published: January 16, 2014; 20:22 ♦ (Vindobona)

Apparently former member of BayernLB’s supervisory board acquired Hypo Group Alpe Adria above its value.

BayernLB Bought Hypo Group Alpe Adria above Value / Picture: © BayernLB

According to the public prosecution in Munich, the former member of BayernLB’s supervisory board bought Hypo Group above its value. Contrary to the agreement, BayernLB offered more than € 1.6bn for the bank during the purchase negotiations on May 14, 2007 which is more than the pre-agreed purchase price of € 1.5bn, as becomes evident by the accusation against former board…