EBRD to acquire 20% stake at Hypo network in the Balkans for EUR 50 m

The European Bank for Reconstruction and Development (EBRD) has decided today to step into the business of takeover of the Hypo Alpe Adria banks network in the Balkans. EBRD will participate with 20% at Hypo holding for SEE and set aside capital totaling EUR 50 m, the bank announced after the meeting of the managing board.

The American fund, Advent, whose managing bodies are yet to make the final decision, will be the main shareholder.

EBRD, which was set up in ’90 by 42 countries in order to support economic development of European post-communist countries, supports projects at the moment in 30 countries.

According to its own definition, EBRD participate only in projects which could not be implemented through funding under commercial terms.

EBRD has its own capital of EUR 30 billion and in the period 1991- 2011, it poured EUR 71,1 billion in 3.374 projects