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Austria: Hypo must divest assets to receive nearly $2B bailout, says Commission

 |  December 6, 2012

The European Commission has reportedly approved for $1.96 billion in emergency capital to be pumped into Hypo Alpe Adria as long as the state bank divests some of its assets and shuts down nonviable operations. According to the Commission, Hypo needed the funds to align with regulatory equity ratios; in a statement, Competition Commissioner Joaquin Almunia says that now that the funds have been approved for the bank, it needs to quickly lay out a divestment plan.

Full Content: Reuters

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