EU regulators clear Hypo Alpe Adria restructuring plan
BRUSSELS, Sept 3
BRUSSELS, Sept 3 (Reuters) - EU state aid regulators cleared bailed-out Austrian lender Hypo Alpe Adria's restructuring plan on Tuesday which includes the sale of the bank's Austrian unit and Balkans banking network and the winding-down of non-viable parts.
Hypo, which received billions of euros in state aid, was nationalised in 2009 to ward off a collapse with regional repercussions.
The European Commission, tasked with ensuring a level playing field in the 28-country European Union, said it also approved additional aid to wind down the bank.
Hypo, which had already agreed to sell its Austrian unit in May, will be required to divest its Balkans network by June 2015. (Reporting by Foo Yun Chee; Editing by Adrian Croft)
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