Berlin paves way for HRE takeover

Germany moved closer to its first bank nationalisation in more than 75 years after the country’s parliament on 20 March 2009 approved a bill that paved the way for the government to take control of Hypo Real Estate, the moribund property lender.

Reports on the 9 April 2009 said that the German government had made a takeover offer for troubled lender Hypo Real Estate. The bid was announced through the Financial Markets Stabilization Fund, SoFFin, which says it wanted 100% control of the group.

Deutsche Welle, 3.4.09: German upper house approves bank takeover law http://www.dw-world.de/dw/article/0,,4149812,00.html

BBC News, 9.4.09: German government in Hypo offer http://news.bbc.co.uk/1/hi/business/7991213.stm

Deutsche Welle, 9.4.09: German government issues HRE share offer http://www.dw-world.de/dw/article/0,,4164345,00.html

Deutsche Welle, 7.4.09: German president clears way for bank nationalization http://www.dw-world.de/dw/article/0,,4160179,00.html

Deutsche Welle, 5.5.09: Nationalization is on the horizon for beleagered Hypo Real Estate Bank http://www.dw-world.de/dw/article/0,,4227963,00.html

ESO: Background information: Hypo reality http://www.europeansources.info/record/hypo-reality/

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