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Austria: More time needed to divest lender assets

By  |  April 4, 2013

Austria’s Finance Minister Maria Fekter will reportedly request an extended deadline from the European Commission for finding buyers for assets of two nationalized lenders. There is currently a June deadline to find buyers of assets from Hypo Alpe-Adria Bank International as well as Kommunalkredit Austrai AG. Finance Minister Maria Fekter will meet with EU Commissioner Joaquin Almunia in Brussels, according to the commission. Anonymous sources informed the media of the reason for the visit. According to reports, Hypo Alpe-Adria could be hit with more than $7.75 billion in fines if the EU forcibly sells the assets.

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