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#StateAid - Commission finds sale of Austria's 25% shareholding in Hypo Steiermark to Raiffeisen-Landesbank Steiermarkinvolves no state aid

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The European Commission has found that the sale by the Austrian State of the 25% plus 2 shares it holds in Landeshypothekenbank Steiermark AG (“Hypo Steiermark”) to private bank Raiffeisen-Landesbank Steiermark AG does not involve State aid within the meaning of EU rules. Raiffeisen-Landesbank Steiermark already holds 75% minus 2 shares of Landeshypothekenbank Steiermark and has a pre-emption right to buy the remaining shares.

Austria notified the sale to the Commission and submitted valuations of the Hypo Steiermark shares by two independent experts. On this basis and on the basis of further information submitted by Austria, the Commission concluded that the sale price was in line with market conditions. The transaction therefore does not involve any State aid within the meaning of EU rules.

More information will be available on the Commission's competition website, in the public case register, under the case number SA.51650 once any confidentiality issues have been resolved.

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