August 2007

Real estate finance: Hypo drive a fast bargain

by Alex Chambers and Jethro Wookey


Hypo Real Estate has agreed to buy Depfa Bank for €5.7 billion. The announcement came as a big surprise to many in the market. Unlike the protracted ABN Amro bid, the deal appears to be free of hindrances. There had been speculation that Dexia SA, Europe’s biggest public sector financier, would come in with a bid. However, despite Depfa’s shares having risen nearly 6.5% early in July as a result...


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