Hypo Group: End of the First Round in the Bidding Process

Professional Services › Banks ♦ Published: June 17, 2011; 18:00 ♦ (Vindobona)

Today, Friday, was the closing date for the submission of tenders for Hypo Group’s Austrian business. The sale process is expected to take several months.

Hypo Group: End of the First Round in the Bidding Process / Picture: © Wikipedia / JJ55 (30 March 2008)

As part of Hypo Group’s nationalization, the European Union obliged the bank to focus on its core business and it prohibited expansion. Hypo therefore decided to divest itself of its Austrian business and its Italian subsidiary. The submission period for Hypo Austria expired today, Friday, while the deadline for tenders for Hypo Italy is June 28.

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