PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Germany's Commerz to sell commercial RE financier Eurohypo
Following the bid by the German government to nationalise Munich's Hypo Real Estate , it is now increasingly likely that the nation's other major commercial real estate financier, Eurohypo, will be sold by Commerzbank to fulfill guidelines from the European Commission. Brussels is now making this a condition for giving the green light following the takeover of Dresdner Bank by Commerz and the injection of e18.2bn through the German bank stability fund Soffin. Political and financial circles in Berlin and Frankfurt say a sale is virtually certain. Internally, the bank is working on valuing its entire holdings and is targeting summer for completion of this exercise.