EU Commission clears amended NordLB overhaul plan
BRUSSELS Aug 22 (Reuters) - Bailed-out German bank NordLB will be allowed to pay coupons to hybrid investors on condition that it sells additional assets and accepts a longer acquisition ban, EU state aid regulators said on Thursday.
The decision means that the bank's revised restructuring plan can now go ahead.
NordLB's original overhaul approved by the European Commission in July last year included a dividend ban from 2012 to 2013 and a coupon ban. The public-sector bank, which received 3.3 billion euros of state aid, later amended the terms.
The Commission said the new agreement provided for "additional divestments and a prolongation of the acquisition ban by a year and a half, until end 2016".
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