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| Hypo Real Estate buys all of Depfa Bank  Hypo Real Estate Holding AG and Depfa Bank plc (DEPFA) have agreed to combine their businesses in an agreed transaction, and to jointly create one of the world's leading and focused provider of financing solutions for commercial real estate, the public sector and infrastructure projects. Hypo Real Estate Holding AG intends to acquire all of DEPFA. The transaction is valued at approx. EUR 5.7 billion. Hypo Real Estate Holding AG will finance the acquisition by issuing new shares to the shareholders of DEPFA and also by way of a cash component. The transaction still has to be approved by the shareholders of DEPFA, and is also subject to regulatory approvals; it is expected to be completed by the beginning of October 2007.The Hypo Real Estate Group, headquartered in Munich, is a leading international provider of large-volume commercial real estate financing with world-wide operations, with strong operating growth and a very successful track record. DEPFA with registered offices in Dublin is one of the world's leading providers of public finance which covers the public sector's entire demand for banking products and which enjoys highly respected expertise in this market. The new group would have around 2,000 employees (combined figures for 2006). With total assets of approx. EUR 385 billion and a market capitalisation of more than EUR 10 billion, the new entity would be one of the largest German banks. As of 31 December 2006, risk assets totalled approx. EUR 100 billion, operating revenues approx. EUR 1.96 billion and pre tax profit approx. EUR 1.22 billion. write your comments about the article :: © 2007 Construction News :: home page |