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JC Flowers fronts bid for Hypo Real Estate stake
Munich Published in Saudi Press Agency on 16 - 04 - 2008

Hypo Real Estate Holdings AG said Wednesday a group
of investors coordinated by US investment house JC Flowers & Co LLC
had offered to buy a 24.9-per-cent stake in the German mortgage
lender that was hit by the round of recent financial market turmoil, according to dpa.
The investors, which include JC Flowers, Shinsei Bank and Grove
International Partners LLP, are offering 22.50 euros (36 dollars) in
cash per share for the holding in Hypo Real Estate, which last month
said it might miss its 2008 profit target because of turbulent
financial markets.
Hypo Real Estate said its management board welcomed the offer in
principle.

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