Agreement signed on the purchase of Hypo Group Alpe Adria

The American fund "Advent International" and the European Bank for Reconstruction and Development (EBRD) signed an agreement last night on the purchase of the Hypo Group Alpe Adria network operating in Southeast Europe, reports the news agency Patria.

The network operating in Southeast Europe comprises six banking holdings in five countries (Slovenia, Croatia, Bosnia and Herzegovina, Serbia, and Montenegro). The Hypo network from SEE serves 1.15 million clients through 245 branches. The total balance sheet amounts to 8.4 billion EUR. The sale of the network of the nationalized Austrian banking group Hypo Alpe-Adria-Bank International operating in Southeast Europe represents the subsequent implementation of the European Union's aid decision of 03.09.2013.

New prospects for future growth

With the new owner, the Hypo Group Alpe Adria banking group will no longer have limitations in its operations. This gives Hypo Group Alpe Adria new prospects for growth.

The initial purchase price amounts to up to 200 million EUR, depending on the financial results achieved in 2014 and 2015. It has been agreed that a minimum of 50 million EUR will be invested.

Refinancing lines amounting to over 2.2 billion EUR from Heta Asset Resolution will remain within the network of banks operating in SEE and will be repaid in the coming years.

The transaction and sale process are expected to be completed by the middle of next year and are subject to approval by regulators and the European Union.