Hypo Real Estate has announced the successful completion of the merger of its two bank subsidiaries licensed to issue German asset-covered bonds or Pfandbriefe as part of the re-organisation of the group.
Hypo Real Estate has announced the successful completion of the merger of its two bank subsidiaries licensed to issue German asset-covered bonds or Pfandbriefe as part of the re-organisation of the group.
Munich local court registered the merger of Depfa Deutsche Pfandbriefbank into Hypo Real Estate Bank on 29 June 2009. The new entity will trade under the name Deutsche Pfandbriefbank.
The Irish bank subsidiary, Depfa Bank, Dublin, where the Group's Value Portfolio is managed, will continue to be directly owned by Hypo Real Estate Holding.
Hypo said it was is reviewing options to transfer significant parts of this portfolio, together with problematic or non-strategic real estate loans, into a deconsolidated environment, a so-called wind-down institute, or Abwicklungsanstalt.
