DEPFA Deutsche Pfandbriefbank AG
DEPFA Deutsche Pfandbriefbank AG:German government to acquire a stake in the share capital of Hypo Real Estate Group
DEPFA Deutsche Pfandbriefbank AG / Corporate Action Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- German government to acquire a stake in the share capital of Hypo Real Estate Group *8.7 per cent stake to be acquired in a first step *SoFFin intends to gain full control over Hypo Real Estate Group Frankfurt/Munich, 28 March 2009: The German Financial Markets Stabilisation Fund (SoFFin) intends to take action to stabilise Hypo Real Estate Group, in the interest of stabilising the financial markets; specifically, SoFFin will implement measures to achieve a sufficient recapitalisation of Hypo Real Estate Holding AG, and will extend further guarantees. This was confirmed today by SoFFin in a declaration of intent issued to Hypo Real Estate Holding AG and Hypo Real Estate Bank AG. It is a prerequisite for the intended recapitalisation of Hypo Real Estate Group by SoFFin that either SoFFin or the German government gain full control over Hypo Real Estate Holding AG. To this end is intended to make use of the options that will be provided by the German Financial Markets Stabilization Amendment Act, which is currently being discussed in the legislative process. As a first step to recapitalise Hypo Real Estate Group, SoFFin has committed itself to acquiring 20 million Hypo Real Estate shares to be issued under authorised capital, at the minimum price prescribed by law of EUR 3.00 per share, to the exclusion of shareholders' pre-emptive rights. New shares must be issued at least at the minimum issue price, which amounts to EUR 3.00 per share for Hypo Real Estate Holding AG. The entire issue amount of EUR 60 million thus payable by SoFFin will be made available to Hypo Real Estate Holding AG, not to the existing shareholders. SoFFin will thus acquire a stake of approx. 8.7 per cent in Hypo Real Estate Holding AG. The Management Boards of Hypo Real Estate Holding AG and of Hypo Real Estate Bank AG have undertaken, with the approval of their respective Supervisory Boards, to SoFFin to take the necessary steps to implement the recapitalisation. Contact: Stefan Krick +49 (06196) / 9990-2851 28.03.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: DEPFA Deutsche Pfandbriefbank AG Ludwig-Erhard-Straße 14 65760 Eschborn Deutschland Phone: +49 (0)6196 9990-0 Fax: +49 (0)6196 9990-1331 E-mail: Stefan.Krick@DePfa.com Internet: www.depfa-pfandbriefbank.com ISIN: DE0008042946, DE0008042938, DE0008042904 WKN: 804294, Eine vollständige Übersicht der Eigenemissionen der DEPFA Deutsche Pfandbriefbank AG (ISIN, Börse,Segment) finden Sie unter:, http://www.hyporealestate.com/796.php Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart; Foreign Exchange(s) Luxembourg, SWX End of News DGAP News-Service ---------------------------------------------------------------------------
Latest News
Latest Reports
Upcoming Events
No Events found
Webcasts
No Webcasts found