Private equity group Advent International and its partner the European Bank for Reconstruction and Development (EBRD) have clinched a deal to buy the Balkans network of nationalised Austrian lender Hypo Alpe Adria for up to 200 million euros ($245 million), the finance ministry said on Tuesday.
The deal is expected to close by the second quarter of 2015 pending regulatory approval, it said in a statement.
Hypo had originally agreed in principle to sell the asset to Advent and the EBRD before Austria changed course last month and reopened the sale to other bidders who had been in the hunt.
($1 = 0.8175 euros) (Reporting by Michael Shields; Editing by Harro ten Wolde)
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