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Bayerische Hypo- und Vereinsbank Plans Full Control of Mortgage Subsidiary HVB REB Aug 02
Standard & Poors, Aug 2002
Abstract
FRANKFURT (Standard & Poor's) Aug. 7, 2002--Standard & Poor's Ratings Services today said Bayerische Hypo- und Vereinsbank AG's (HVB; A/Stable/A-1) plans to buy out the minority shareholders of its mortgage subsidiary HVB Real Estate Bank AG (HVB REB; A/Stable/A-1) will not have any direct impact on its ratings on HVB REB. HVB currently holds an 80.76% stake in HVB REB, following the latter's partial flotation in September 2001. HVB expects that the proposed takeover bid, expected for the second half of September, will create the basis for a further integration and bundling of the group's commercial real estate activities. 'Standard & Poor's continues to consider real estate activities to be a core business for the HVB group,' said Michael Zlotnik,...
Companies mentioned in this report are: Deutsche Pfandbriefbank AG,UniCredit Bank AG
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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