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Hypo Real Estate

Evonik Industries AG in Essen

Evonik Industries AG

Germany has sold most of its remaining stake in pbb Deutsche Pfandbriefbank, 10 years after bailing out the property lender’s former parent Hypo Real Estate (HRE). Among those taking up part of the placement of the state's stake in the lender is Germ Read more

Companies

HSH Nordbank

HSH Nordbank

It's down to just two contenders to buy the ailing state-owned HSH Nordbank as the protracted bidding process heads into its final phase, with the bank agreeing to exclusive talks with potential buyers J.C. Flowers and Cerberus in a joint bid. Read more

Companies

Stefan Ermisch - HSH Nordbank

HSH Nordbank

The highest bid from the three remaining bidders for the troubled Kiel- and Hamburg-headquartered HSH Nordbank is coming in at about €200m, according to a recent report in the Wall Street Journal. Following an EU decree... Read more

Companies

Financing

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Among German real estate-related stocks showing strong stock market appreciation over the past twelve months is Munich-based financing bank pbb Deutsche Pfandbriefbank. The 'good bank' that emerged from the ashes of the collapsed Hypo Real Estate... Read more

Companies

Andreas Arndt - pbb

Deutsche Pfandbriefbank AG

The steady decline of pbb Deutsche Pfandbriefbank's share price since its flotation a year ago is symptomatic of the problems being faced by the successor bank to Hypo Real Estate. Last week's second quarter figures show the corrosive effect of... Read more

Companies

Thomas Köntgen - pbb

Deutsche Pfandbriefbank AG

The Munich-based pbb Deutsche Pfandbriefbank, the 'good bank' that emerged out of the ashes of the old – and since nationalised - Hypo Real Estate, has posted its best results since its new beginning as an independent real estate financing bank. Read more

Companies

Investment - Buyer

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Private equity group Cerberus has hired UBS to find a buyer for its German cash & carry markets after abandoning its original plan to list its retail division through an IPO. The assets, many of which are wholesale markets leased to Metro, are... Read more

Investment

Börse Frankfurt

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The uncertainty and renewed volatility on Frankfurt's Stock Market in the run-up to the Greek referendum led to the cancellation of the planned IPO of Israeli-led group Ado Properties, while the proposed flotation of Munich-based pbb Deutsche... Read more

Markets

Depfa Bank

FMS Wertmanagement / REFIRE

After nearly five years of looking for a suitable buyer for Depfa Bank, the Dublin-based public-sector financing subsidiary of bailed-out lender Hypo Real Estate (HRE), Germany’s bank bailout fund Soffin took the decision to wind down Depfa rather... Read more

Companies

Numbers and figures

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Pbb Deutsche Pfandbriefbank, the ‘good bank’ that survived from the ruins of the old Hypo Real Estate, managed to boost its pre-tax profits for the full year 2013 to €165m, an increase of 30% on the previous year, in part due to the once-off... Read more

Markets

Patrizia Düsseldorf

PATRIZIA Immobilien AG

The postponement of a major deal announcement , along with what it described as the costs of complying with the European Union’s AIFM directive, led to the listed Augsburg-based Patrizia Immobilien issuing a warning that it would miss its profit... Read more

Investment

Fitch Ratings

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Ratings agency Fitch produced one of its regular reports earlier this month on the German real estate banking sector, and seemed to have a slightly sharper tone than usual in REFIRE’s view, highlighting several banks’ lack of a retail base in... Read more

Markets

For the first time since its establishment in 2008 as a rescue fund for Germany’s banks dragged down by the collapse of the subprime debt market, the bailout fund SoFFin booked a profit in 2012, after writing back €1.39bn on loss provisions for... Read more

Markets

A comprehensive report published by Reuters crossed our desk last week, dealing with the extent to which the major German banks are still grappling with their need to shed a massive €637 billion of unwanted assets – including shipping loans and... Read more

Markets