US buyout firm JC Flowers has said that it has received offers from shareholders to tender almost 20% of the share capital of German bank Hypo Real Estate. The New York-based company held 18.54% of Hypo RE on 20 June.
US buyout firm JC Flowers has said that it has received offers from shareholders to tender almost 20% of the share capital of German bank Hypo Real Estate. The New York-based company held 18.54% of Hypo RE on 20 June.
A group of investors led by JC Flowers launched an offer in May to buy up to 24.9% of Hypo Real Estate. The offer is for up to 50.1 million shares at a price of EUR 22.50 per share. This comes to a total maximum consideration of EUR 1.1bn. The offer period runs to 23 June. The group had said that it would seek a minimum acceptance of at least 20% of Hypo RE's stock capital.
