Important news from Rubye

Hypo Alpe Adria puts sale of bank units on hold

Austria took control of Hypo in 2009 to avoid a collapse that could have shaken central and eastern Europe. The bank now aims to shrink back to health by focusing on business in southeastern Europe.It has been trying to extend a March 2012 deadline for raising around 1.5 billion euros ($2.06 billion) in fresh capital that regulators propose it gather to strengthen its balance sheet and be able to absorb worst-case shocks.In the radio interview on Tuesday Kranebitter reiterated that Hypo could raise the money itself if given enough time to continue its divestment and reorganisation programme.”From today’s perspective we need time and we have to handle the downsizing as planned — that means without losses. If we succeed that means we won’t need any money,” he said.He said the bank had signs that regulators were prepared to hold a “constructive dialogue” on the matter but he declined to elaborate.Asked whether Hypo had the money to repay more than 3 billion euros in financing provided by former owner BayernLB , he said:”The liquidity situation of the bank has me sleeping soundly. We have a billion (euro) buffer of excess liquidity. We are sufficiently provisioned to meet these obligations.” ($1 = 0.727 Euros)

Essar Group mulls listing infra assets in London-reports

Mumbai-based Essar declined to confirm the report. “The group is always looking at various options available to it for raising capital, given its significant growth trajectory. As of now there is no specific transactions proposed and therefore your question is speculation,” an Essar spokesperson said in an e-mail reply to Reuters on Tuesday. Essar is mulling the possibility of listing the group’s infrastructure businesses that include ports and shipping assets, the Press Trust of India reported. The deal may mark the biggest overseas IPO by an Indian company since May 2010, when another Essar unit, Essar Energy Plc , raised 1.27 billion pounds ($2 billion), Bloomberg said. The group has two firms, Essar Ports and Essar Oil , listed on the Indian bourses.