Germany To Buy 8.7% Stake In Hypo RE
The German government plans to acquire an 8.7% stake in Hypo Real Estate Group. The troubled lender said in a statement that the German Financial Markets Stabilization Fund (SoFFin) is taking the step in an effort to stabilize the financial markets. Specially, as part of the recapitalization of Hypo Re, either SoFFin or the German government will gain full control over Hypo Real Estate Holding, and as a first step toward that end SoFFin has committed to acquiring 20 million shares of Hypo Real Estate.
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