EBRD eyes 20 pct stake in Hypo Balkans for up to 50 mln euros

VIENNA Wed Nov 26, 2014 6:55am EST

VIENNA Nov 26 (Reuters) - The European Bank for Reconstruction and Development (EBRD) plans to invest up to 50 million euros ($62 million) for a 20 percent stake in the Balkans network of nationalised Austrian lender Hypo Alpe Adria, it said on Wednesday.

Hypo Alpe Adria -- now known as Heta Asset Resolution after its conversion to a "bad bank" -- has agreed in principle to sell the Balkans network to U.S. private equity group Advent International and the EBRD.

But several issues still remain open, Austria's finance minister said on Tuesday.

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EBRD eyes 20 pct stake in Hypo Balkans for up to 50 mln euros

VIENNA Wed Nov 26, 2014 6:55am EST

VIENNA Nov 26 (Reuters) - The European Bank for Reconstruction and Development (EBRD) plans to invest up to 50 million euros ($62 million) for a 20 percent stake in the Balkans network of nationalised Austrian lender Hypo Alpe Adria, it said on Wednesday.

Hypo Alpe Adria -- now known as Heta Asset Resolution after its conversion to a "bad bank" -- has agreed in principle to sell the Balkans network to U.S. private equity group Advent International and the EBRD.

But several issues still remain open, Austria's finance minister said on Tuesday.

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MAN says not making provision for EU antitrust probe

FRANKFURT Wed Nov 26, 2014 6:45am EST

FRANKFURT Nov 26 (Reuters) - German truck maker MAN said on Wednesday it would not set aside any money to cover potential costs related to an antitrust investigation into the industry by the European Commission.

Earlier, German daily Frankfurter Allgemeine Zeitung (FAZ) said the Volkswagen-controlled company would not be fined in connection with the cartel investigation.

MAN would gain antitrust immunity as it approached authorities in 2010 with information that triggered the investigation, FAZ said, without citing sources.

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UPDATE 1-British insurer Aviva to shut $2 bln fund of hedge funds

Wed Nov 26, 2014 6:43am EST

(Adds context, Aviva's possible buy of Friends Life)

By Nishant Kumar

LONDON Nov 26 (Reuters) - Aviva will shut its unit that invests in external hedge funds, the British insurer said on Wednesday, joining a growing number of so-called fund of hedge funds to have closed shop or merged with rivals as clients cut out the middleman.

The U.S.-based Hedge Fund Investment Team of Aviva manages about $2 billion.

Aviva did not disclose the actual date of closure.

The retreat comes as Aviva targets a possible deal to buy ri...

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SE Asia Stocks-Vietnam underperforms as energy stocks drag; others rangebound

Wed Nov 26, 2014 6:28am EST

Nov 26 (Reuters) - Vietnam's benchmark VN Index 
dropped 1.7 percent on Wednesday to a five-month closing low,
dragged lower by the oil and gas sector on a sharp drop in
global oil prices. 
    The meeting between Saudi Arabia and Venezuela with non-OPEC
oil producers Russia and Mexico on Tuesday resulted in no deal
to curb output against a 30 percent slump in prices since June,
dragging Brent down before it rebounded on Wednesday on comments
by Saudi Arabia's oil minister that the oil market would
stabilise.  
    Analysts said investors waited for clues about the global
economy from U.S. data, including personal income and spending,
durable goods orders, and weekly jobless claims, due later in
the day. 
    Shares of Petro...

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