Hypo Group Starts Sales

Professional ServicesBanks ♦ Published: March 19, 2011; 11:14 ♦ (Vindobona)

The emergency-nationalized Carinthian Hypo Group is to sell its Austrian and Italian subsidiary in the coming weeks.

Hypo Group Starts Sales / Picture: © Wikipedia / JJ55 (30 March 2008)

In the coming days, the first steps for the sales process by means of a call for tenders are expected to be taken. "The board has decided to start preparations for the sale", said the Chairman of the Supervisory Board, Johannes Ditz. The period estimated to conclude the sale is one year.

The sale is however not strictly necessary, and would only occur if the price is right. The…