Hypo Alpe Adria subsidy will be sold

The final negotiations about the sale of the Austrian subsidy of the bank group Hypo Alpe Adria are currently underway. The Indian “Srei Group” with headquarters in Calcutta allegedly has good chances.

The Srei Group is a listed company and one of the leading private financial institutes in the infrastructure sector of India. However, the group only has a limited bank license in India as it deals primarily with firms.

The Srei group wants to extend its activities in Europe and buy the Austrian subsidy of Hypo Alpe Adria. This would enable them to receive a bank license in the EU.

The taskforce, which was appointed by the government and includes experts of the Austrian National Bank and the financial market authority, held a meeting yesterday (Mon).

The board of Hypo will meet on 17 May. Austria will have to submit a reorganization plan to the EU-commission until the end of May.

The group wants to sell the Austrian subsidy as quickly as possible in order to appease the authorities in Brussels.