Hypo Alpe Adria Sells Stake in Hypo Insurance

Published: August 4, 2011; 12:49 · (Vindobona)

All of the Austrian bank’s 20% stake will be taken over by majority owner Grawe insurance.

Hypo Alpe Adria Sells Stake in Hypo Insurance / Picture: © Wikipedia / JJ55 (30 March 2008)

Hypo Alpe Adria continues scaling down. The nationalized bank announced that it has sold its 20% stake in Hypo Versicherung AG to Grazer Wechselseitige Versicherung AG. Grawe has been a majority shareholder in the past, and has been responsible for administration and policies since the start of commercial operation. Prior to the deal, Grawe owned 62.8% of the shares in Hypo…

This article includes a total of 136 words.

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