Sale of SEE-Network signed with Advent International and EBRD
Heta Asset Resolution AG (Heta) informs that the sales negotiations for the Southeastern-European Network (SEE-Network) of former Hypo Alpe-Adria-Bank International AG have been finalised. The US-fund Advent International and the European Bank for Reconstruction and Development (EBRD) have signed an agreement. The sale of the SEE-Network is a consequent implementation of the EU aid-decision dated 03rd, Sept. 2013 to sell or otherwise wind-down the SEE-Network.
Effects on HETA as result of BayernLB’s statement on the sale of the SEE network
HETA is engaged in the sale of the SEE network by virtue of a power of attorney issued by the current owner of the SEE Network, FIMBAG. According to the power of attorney the sale of the SEE network requires the approval of Bayerische Landesbank (BayernLB).
Michael Mendel succeeds Herbert Walter as President of the Supervisory Board of Heta
Heta Asset Resolution announces that as of Friday, 07.11.2014 Dr. Herbert Walter resigns from his position as President and member of the Supervisory Board of Heta Asset Resolution. He is succeeded by Dkfm. Michael Mendel, Deputy Director General of ÖVAG.
Hypo Alpe-Adria-Bank International AG / General approval to sell the SEE Banking Network to Advent International with EBRD as co-investor
In the evening of 29 October 2014, the HYPO ALPE-ADRIA-BANK INTERNATIONAL AG approved in principle the sale of all shares in Hypo SEE Holding AG (and indirectly of the participations of Hypo SEE Holding AG in non-Austrian banking subsidiaries) and consequently of the SEE Banking Network to Advent International and the European Bank for Reconstruction and Development (EBRD) considering co-investing, subject to internal approvals of the acquirers, including by their board of directors. The decision is also subject to a final decision by the Republic of Austria in its capacity as ultimate owner.
Hypo Alpe-Adria-Bank International AG / Termination of banking licence and continuation as a wind-down entity
Hypo Alpe-Adria-Bank International AG (HBInt.) announces that as of today its licence to conduct banking activities pursuant to the Austrian Banking Law has terminated (deregulation). HBInt. will continue its operations as a wind-down entity in accordance with GSA, Section 3 (Federal Law on the Creation of a Wind-Down Entity). Preconditions for the deregulation of HBInt. were that it no longer undertakes any deposit transactions and no longer holds any qualified participations in credit institutions or financial securities firms. These requirements have been fulfilled as a result of the recent restructuring efforts.
Hypo Alpe-Adria-Bank International AG / Änderungen im Vorstand
Die Hypo Alpe-Adria-Bank International AG teilt mit, dass der Vorstandsvorsitzende Dr. Alexander Picker sowie Vorstand Dipl.-Kfm. Rainer Sichert, M.A., im Zuge der Umstrukturierung der Bank ihre Mandate bei der HBInt. zurücklegen. Dr. Picker bleibt Vorstandsvorsitzender und Dipl.-Kfm. Sichert bleibt weiter Vorstand in der Hypo SEEHolding AG. Der Vorstand der HBInt. setzt sich somit vorerst aus Mag. Johannes Proksch und Dr. Rainer Jakubowski zusammen.
Transfer of the SEE bank network to the Republic of Austria
Hypo Alpe-Adria-Bank International AG (HBInt.) herewith announces that after the General Meeting of Shareholders held today, a resolution was passed that all shares in Hypo SEE Holding AG held by HBInt (including the foreign subsidiaries held by HBInt.) shall be transferred to a legal entity named in the Federal Act on the Creation of a Winding-Down Unit (GSA), Federal Gazette I no. 51/2014, in fulfilment of the relevant legal requirements.
Hypo Alpe-Adria-Bank International AG / Interim Results 2014
The interim consolidated financial statements of Hypo Alpe-Adria-Bank International AG as of 30 June 2014, which were prepared based on the IFRS show a negative result for the reporting period after tax and non-controlling interests in the amount of EUR -1.67 billion (same period in 2013: EUR -0.87 billion). This loss is essentially due to exceptional charges in the form of provisions in the amount of EUR -1.44 billion, which had to be made in preparation of the carve out of the Italian subsidiary and the SEE bank network from the Group.
New appointments to the Supervisory Board
Hypo Alpe-Adria-Bank International AG announces that the sole shareholder resolved to replace its representatives on the Supervisory Board at the extraordinary general meeting held today. The following members were appointed to the Supervisory Board: Dr. Herbert Walter, Mag. Regina Friedrich, Mag. Christine Sumper-Billinger, Dipl.-Vw. Wolfgang Hartmann and Mag. Alois Hochegger.
Publication of audited consolidated result for 2013 / No coupon payments on hybrid and supplementary capital instruments
Hypo Alpe Adria announces that its audited consolidated annual financial statements for 2013, based on international accounting regulations (IFRS), show a negative result after tax and minority interests of EUR -1,863.7 million (2012: EUR -22.9 million) which is within the lines of the restructuring plan submitted to the European Commission in June 2013.
Investor Information - Final preparations of the annual financial statements 2013
Hypo Alpe-Adria-Bank International AG (HBInt) herewith announces that it is currently in the process of finalizing the preparation of the annual financial statements as well as the consolidated financial statements for the year 2013. According to the preliminary/unaudited figures for the financial year 2013 the group result after taxes and minority interests (IFRS) is expected to about EUR -1.9 bn, while for the individual financial statement a net loss after taxes (Austrian Commercial Code/Austrian Banking Act) of about EUR -2.7 bn is expected. The final figures will be published and made public after a meeting of the Supervisory Board which is scheduled for 16 April 2014.
Resolution on capital increase in the amount of EUR 750 m
Following the ad-hoc information of the bank dated 3 April 2014, Hypo Alpe-Adria-Bank International AG herewith announces that in the course of today’s extraordinary general assembly it has been decided that the sole owner of the bank, the Republic of Austria, will carry out a capital increase in the amount of EUR 750 m.
Capital Market Information
Hypo Alpe-Adria-Bank International AG (HBInt) hereby announces that the Austrian Central Bank (Oesterreichische Nationalbank) has informed HBInt of a decision adopted by the Governing Council of the ECB on 3 April 2014, to suspend the access of Hypo Alpe Adria Bank International AG, which is domiciled in Austria, to Eurosystem monetary policy credit instruments and to the ECB’s marginal lending facility until further notice. Furthermore, uncovered bank bonds (senior unsecured bonds) issued by HBInt cannot be used as eligible assets for Eurosystem credit operations until further notice.
Hypo Alpe-Adria-Bank International AG states that an extraordinary General Meeting has been called for 9 April 2004, at which a resolution will be taken concerning the execution of a capital increase in the amount of EUR 750 million by the sole owner.
Announcement capital requirements
Further to its ad hoc information of 10 March 2014, Hypo Alpe-Adria-Bank International AG hereby announces that during the Supervisory Board meeting held on 20 March 2014, which was attended by the bank’s auditor, it was found that additional impairments are required in order to finalise the annual financial statements as at 31 December 2013 pursuant to the Austrian Commercial Code/Code of Business Enterprises (UGB/BWG).
Hypo Alpe-Adria-Bank International AG herewith informs that it currently is preparing its annual financial statements as per 31.12.2013. With regard to finalizing these statements and observing the capital ratios as required by law the need for additional capital cannot be ruled out. Therefore, the Bank is discussing with its owner, the Republic of Austria, how compliance with the legal provisions can be ensured based on the aid decision of the European Commission of September 2013 in case additional capital will actually be required.
Chairman of the Supervisory Board Liebscher resigns from his positions
Hypo Alpe-Adria-Bank International AG reports that Dr. Klaus Liebscher, Chairman of the Supervisory Board, today has informed the owner, the Republic of Austria, and the company that he will resign from his positions as Chairman of the Supervisory Board as well as from his appointment as a member of the Supervisory Board effective immediately. The company regrets this personal decision and thanks the departing Chairman of the Supervisory Board for his work on behalf of the bank.