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Hypo Alpe Adria to Sell its Italian Subsidiary
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The Carinthian bank intends to divest its operations in the neighboring country. The subsidiary achieved a profit of € 10.82m in 2010.
Hypo Alpe Adria to Sell its Italian Subsidiary / Picture: © Hypo Alpe-Adria-Bank International AG
Hypo Alpe Adria has officially offered its Italian subsidiary for sale by tender. On Wednesday, a tender notice was published in “Wiener Zeitung” according to which the bank will be sold in an open and transparent bidding process. Last week, Hypo already announced the sale of its Austrian subsidiary. However, interest has been very limited so far.
At the balance sheet press…
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