Global private equity firm Advent International and development finance institution European Bank for Reconstruction and Development (EBRD) have agreed to acquire Hypo SEE Holding, the Balkan-focused banking unit of Austria-based bank Hypo Alpe-Adria-Bank International. Advent will pay a reported EUR100 million (approximately US$127 million) for the unit, which owns banks in Slovenia, Croatia, Serbia, Bosnia-Herzegovina and Montenegro. After the acquisition, the remainder of Hypo Alpe will be tasked with winding down its assets, worth about EUR18 billion (approximately US$23 billion). The transaction is subject to approval from the Austrian government, Advent and EBRD.