Yesterday, a majority of Hypo Real Estate Holding AG (Hypo) shareholders approved a capital increase of 986.5 million Hypo shares to be underwritten and purchased by Germany's state-owned Financial Market Stabilisation Fund (Sonderfonds Finanzmarktstabilisierung - SoFFin) for approximately €2.96 billion. This investment will provide SoFFin with a 90% ownership stake and bring Hypo one step closer to full nationalization. Last month, SoFFin increased its ownership to 47.3% pursuant to a tender offer.
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Hypo Re shareholders approve capital increase
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