Hypovereinsbank (HVB), Germany's second-biggest bank and Europe's biggest mortgage lender, is throwing out ballast to keep afloat. On July 8th it sold a quarter of its best-performing subsidiary, Bank Austria Creditanstalt, at EUD29 ($33) a share, to raise around EUD1 billion of much-needed capital. HVB thinks investors will be more interested in its operations in Austria and central Europe, which Bank Austria runs, than in the rest of its portfolio, which includes EUD14 billion of non-performing loans. Does the sale make strategic sense, or is it just a desperate bid to prop up HVB'S credit rating?
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机译：德国第二大银行，欧洲最大的抵押贷款人Hypovereinsbank（HVB）正在抛出压舱物以维持生计。 7月8日，该公司以每股29欧元（33美元）的价格出售了表现最佳的子公司Bank Austria Creditanstalt的四分之一，筹集了大约10亿欧元的急需资金。 HVB认为，投资者将对其在奥地利银行运营的奥地利和中欧的业务更感兴趣，而不是对其其余投资组合（包括140亿欧元的不良贷款）感兴趣。此次出售是否具有战略意义，还是只是为了支持HVB的信用评级而拼命竞标？
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