Takeover of Croatian Aluflex Failed

People ♦ Published: July 19, 2012; 18:55 ♦ (Vindobona)

The Austrian Hypo Group Alpe Adria will not sell the Croatian aluminum group to the Swiss MTC (Montana Tech Components).

Takeover of Croatian Aluflex Failed / Picture: © Global Equity Partners / Press Photo

Hypo Group will not sell Aluflex. For the state-owned bank, this is a bad news. Hypo Group must downsize its operations in Southeastern Europe radically. The banking group mast raise its equity by € 1.5bn until the end of 2012. MTC and Hypo Group withdrew from the sales contract, which was signed in January. Initially, the closing was expected in August. In January, Hypo Group…