Soffin holds 90% of HRE, JC Flowers faces squeeze-out

Government-backed Soffin has completed the capital increase of ailing real estate bank Hypo Real Estate Holding AG, owning 90% of the bank.

This paves the way for a squeeze-out of the remaining shareholders of the bank, among them JC Flowers, which acquired a 25% stake in the listed bank for EUR1.127bn in cash (May 2008, page 34).

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