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BayernLB Demands Rescission of Hypo-Deal
The German bank has taken action against the employee fund which is accused of having misled the management about Hypo’s equity base.
BayernLB Demands Rescission of Hypo-Deal / Picture: © BayernLB
BayernLB, which purchased Hypo Alpe Adria in 2007, demands the reversal of the transaction from the Austrian bank’s employee fund. The management of the Bavarian group argues that it had been misled about Hypo’s equity base. In 2009, the Carinthian bank had to be nationalized.
Specifically, the dispute revolves around two tranches of preference shares which were used to…
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