A group of investors led by US private equity group JC Flowers has successfully bought a stake of up to 24.9% in Hypo Real Estate Holdings.
A month ago, the group made an offer of €22.50 per share for the shareholding, amounting to a total investment of €1.1bn.
Yesterday, the consortium said that 24.13% of Hypo Real Estate’s shares had been offered to them and they remained “optimistic” this would increase to 24.9%.
This morning, the management board of Hypo Real Estate issued a statement welcoming the investment.
Chief executive Georg Funke said: “A shareholding by such a renowned group of financial investors will stabilise Hypo Real Estate Group’s shareholder structure, supporting the group’s long-term development both strategically and operationally.”
