Hypo Alpe Adria May Keep BayernLB’s 3.1 Billion Euros, FTD Says

June 19 (Bloomberg) -- Hypo Group Alpe Adria, a former unit of BayernLB, is considering keeping the 3.1 billion euros ($3.9 billion) it received in its 2009 bailout from BayernLB, FTD reported, citing the head of the supervisory board of HGAA, Johannes Ditz.

HGGA has hired legal advisers to clarify whether the money qualifies as “hidden equity” that wouldn’t need to be repaid, FTD said. BayernLB insists on getting the funds back, the newspaper reported.

To contact the reporter on this story: Annette Weisbach in Frankfurt at aweisbach1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net