German cooperative real estate banks DG Hyp and Muenchener Hypothekenbank are close to signing a merger agreement, German newspaper Frankfurter Allgemeine Zeitung reported, citing an unnamed source. The paper said the non-executive boards of the two companies are set to approve a letter of intent on the merger this week. The merger would create Germany's third-largest real estate bank, the paper said.
German cooperative real estate banks DG Hyp and Muenchener Hypothekenbank are close to signing a merger agreement, German newspaper Frankfurter Allgemeine Zeitung reported, citing an unnamed source. The paper said the non-executive boards of the two companies are set to approve a letter of intent on the merger this week. The merger would create Germany's third-largest real estate bank, the paper said.
