Hypo Real Estate Holding GmbH
Hypo Real Estate Holding AG:SoFFin now holds a 90 per cent stake in Hypo Real Estate; will initiate squeeze-out of minority shareholders
Hypo Real Estate Holding AG / Corporate Action/Squeeze Out Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- SoFFin now holds a 90 per cent stake in Hypo Real Estate; will initiate squeeze-out of minority shareholders Munich, 8 June 2009 - The German Financial Markets Stabilisation Fund ('SoFFin') has been holding a 90 percent stake in the share capital of Hypo Real Estate Holding AG since Monday. This follows SoFFin's subscription of approximately 986.5 million shares from a capital increase resolved by the Company's Extraordinary General Meeting on 2 June 2009. The Munich local court (Amtsgericht München), being the court having jurisdiction over Hypo Real Estate's Commercial Register, has now registered the capital increase: as a result, the Company's issued share capital amounts to EUR 3,652,885,800, comprising 1,217,628,600 no-par value shares (Stückaktien). Hypo Real Estate raised funds amounting to approximately EUR 2.96 billion via this capital increase. The CEO of Hypo Real Estate Holding Axel Wieandt said: 'Hypo Real Estate will require additional capital support even after this capital increase. We anticipate a loss situation at least in the 2009 and 2010 financial years too.' The future high burden on earnings, according to Wieandt, is due mainly to three factors: Expenditure for liquidity support received, expenditure in relation to the strategic realignment and restructuring as well as further write-downs on receivables and securities that are expected in the course of the financial crisis and economic downturn. 'We are very concerned about developments on the commercial real estate market' said Wieandt. Against this background, SoFFin notified Hypo Real Estate on Monday that it will require minority shareholders to transfer their shares to SoFFin, against an appropriate settlement payment. The Company's AGM will need to decide on the squeeze-out of minority shareholders; a date has yet to be fixed. Press contacts: Walter Allwicher: +49 89 203007-787; walter.allwicher@hyporealestate.com Oliver Gruss: +49 89 203007-781; oliver.gruss@hyporealestate.com Contact: Walter Allwicher: +49 89 203007-787; walter.allwicher@hyporealestate.com 08.06.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Hypo Real Estate Holding AG Unsöldstraße 2 80538 München Deutschland Phone: +49 (0)89 203 007-780 Fax: +49 (0)89 203 007-772 E-mail: ir@hyporealestate.com Internet: www.hyporealestate.com ISIN: DE0008027707, DE000A0XFS34 WKN: 802770, A0XFS3 Indices: MDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hannover, Stuttgart, Düsseldorf, München, Hamburg; Terminbörse EUREX End of News DGAP News-Service ---------------------------------------------------------------------------
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