ZAGREB (Croatia), August 15 (SeeNews) – Austria's HETA Asset Resolution (HETA), the 'bad bank' of former Hypo Alpe Adria International, is set to sell its Croatian unit to Norway's B2 and Sweden's DDM for 160 million euro ($181.2 million), Slovenian media reported, citing unofficial sources.
HETA is in the final stages of agreeing the sale of its Croatian unit, which holds some 450 million euro in bad debt, news daily Finance reported in its online version on Tuesday.
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Following this transaction, the Austrian 'bad bank' will be selling its Slovenian unit in autumn, the daily added citing information yet to be officially confirmed.
HETA Asset Resolution is part of HETA Group, a wind-down corporation owned by Austria. Its statutory task is to dispose of the non-strategic portion of Hypo Alpe Adria, nationalised in 2009, as effectively as possible whilst preserving value.
DDM is a specialist acquirer and manager of distressed asset portfolios in Southern, Central and Eastern Europe, while B2Holding provides debt solutions for banks and institutional vendors.
($=0.882913 euro)