Hypo Group Alpe Adria, which was majority acquired by Bayerische Landesbank (BayernLB) last October for approximately 1.6 billion euros, could soon change ownership again, Austrian media reported on Thursday.
Austrian magazine News, citing "investment circles," reported that BayernLB might sell Hypo Group Alpe Adria. BayernLB, which has been severely affected by the international credit crisis, is seeking an investor, claims News. BayernLB is owned by a group of Bavarian banks, Sparkasse and the Free State of Bavaria. There are concerns that the next investor could be one of the so-called "vulture funds," which would invest in Hypo Group Alpe Adria and subsequently dismantle the group.
Some funds would also be interested in acquiring their own stakes. However, both BayernLB and Hypo Group Alpe Adria denied all these claims on Thursday. BayernLB owns 57.49% of Hypo Group Alpe Adria, GRAWE group owns 26.45%, 16.04% is held by Kärntner Landesholding, and 0.02% is owned by the employee foundation. The group has approximately 7,400 employees and operates in twelve countries. (Hina)
