Germany's Hypo Real Estate Group has completed the EUR 5.7 bn acquisition of Dublin-based Depfa Bank to create a major new provider of commercial real estate and public sector lending. The largest takeover in Irish history was approved by the Irish High Court on Tuesday, days after Depfa's shareholders gave their backing.
Germany's Hypo Real Estate Group has completed the EUR 5.7 bn acquisition of Dublin-based Depfa Bank to create a major new provider of commercial real estate and public sector lending. The largest takeover in Irish history was approved by the Irish High Court on Tuesday, days after Depfa's shareholders gave their backing.
Hypo Real Estate, a commercial property financier, is paying for the acquisition of the public sector lender with cash and by issuing 67 million new shares. Both companies are listed in Germany and trading in the shares of the combined group is expected to begin in Frankfurt on Friday. Georg Funke, CEO of Hypo Real Estate, commented: 'the new group will become a global leader in large-scale finance'.
