Hypo Group to Sell Austrian Affiliate

Politics ♦ Published: May 29, 2013; 10:21 ♦ (Vindobona)

On Friday the deal of nationalized Hypo Bank’s Austrian affiliate will finally be sealed. Indian Srei Group will become the new owner in all likelyhood. The company will pay € 60m to € 70m.

Hypo Group to Sell Austrian Affiliate / Picture: © Hypo Alpe-Adria-Bank International AG

Apparently the concept of obtaining a European banking license through the acquisition of Hypo Group and therefore being able to expand in Europe has convinced the Indian company, which invests in infrastructure projects.

Hypo Bank’s Austrian affiliate is listed in the books at € 130m. The selling of the bank will therefore bring losses in the amount of € 60m to 70m. Still,…

or Log In

Fast News Search
Related News
Austria: Faymann Positive About Extension for Hypo Group (May 24, 2013)
Nowotny: Decision About Bad Bank for Hypo Not Essential Right Now (May 23, 2013)
Srei Group to Offer € 65.6m for Hypo (May 22, 2013)
Austria: Fekter’s Ambition to „Steer Hypo Group Into Safe Waters“ (May 21, 2013)
Indian Srei Group to Acquire Austrian Hypo? (May 13, 2013)
Read More
Hypo Group Alpe Adria, Italy, India, Srei Group, Banking Industry, Restructuring, Downsizing, CESEE, Brussels, Joaquin Almunia
Featured
See latest Vindobona Newsletter