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Hypo Real Estate shareholders face squeeze-out

Hypo Real Estate shareholders face squeeze-out

Shareholders of troubled German lender Hypo Real Estate AG were meeting Monday amid an attempt by the German government, which owns the majority of the company, to buy out remaining stakeholders.
The German government moved to nationalize Munich-based Hypo Real Estate, the most prominent German victim of the financial crisis, earlier this year. It argued that it needed to take direct control after intervening repeatedly to shore up the company with loan guarantees totaling around ⁈llion ($146 billion).
In June, the government's financial-sector rescue fund secured 90 percent of the lender after making an offer that valued the shares at ⁈ach. The government is expected to offer ⁈or remaining shares Monday and eventually delist the company from the stock exchange as it restructures.
Shares of Hypo were up about 0.7 percent at ⁈n Frankfurt morning trading.
Monday's offer is expected to be met with continued protest from remaining shareholders.
U.S. private equity firm J.C. Flowers & Co LLC has said investors it advises, who hold about 10 percent of the bank's shares, want to retain their stakes.
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On the Net:
http://www.hyporealestate.com


Updated : 2021-10-22 06:16 GMT+08:00