BELGRADE (Serbia), December 20 (SeeNews) – Austria's HETA Asset Resolution (HETA), the 'bad bank' of former Hypo Alpe Adria International, has completed the sale of Serbian assets after disposing of shares in local companies HETA Leasing and HETA Asset Resolution Beograd, it said.
The shares in Heta Leasing Beograd and HETA Asset Resolution Beograd were sold to Cyprus-based Kappa Star and Serbian company NDM Asset Management, HETA said in a statement on Wednesday.
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With the successful completion of the sale, HETA is no longer operating in Serbia, the bad bank said without revealing further details.
According to data from Serbia's Business Register, Serbian citizens Nebojsa Jankovic and Dejan Dragojevic hold a 50% and 25% stake in NDM Asset Management, while German citizen Martin Franz Kammermeier controls the remainder.
Kammermeier is a managing director of HETA, responsible for the work out of non-performing loan portfolios in Serbia, Montenegro, Italy, Hungary, Bulgaria and Macedonia.
HETA Asset Resolution is part of HETA Group, a wind-down corporation owned by Austria. Its statutory task is to dispose of the non-strategic portion of Hypo Alpe Adria, nationalised in 2009, as effectively as possible whilst preserving value.