Hypo Group: € 3.0bn Debts at BayernLB

Politics ♦ Published: December 3, 2011; 21:10 ♦ (Vindobona)

The nationalized Hypo Group is still massively indebted at its former holding company, the German BayernLB. The loan will be due by the end of 2013.

Hypo Group: € 3.0bn Debts at BayernLB / Picture: © Wikipedia / JJ55 (30 March 2008)

Due to a parliamentary inquiry, Finance Minister Maria Fekter explained that the Austrian Hypo Group Alpe Adria has still debts at BayernLB amounting to € 3.0bn. Fekter added that these debts arose on the occasion of the sale by BayernLB in December 2009, when Hypo Group has been nationalized.

Moreover, a prolongation of the loan in the case of need would have to be negotiated,…

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