Deka, Helaba and LBBW are bidding for the real estate financier that belongs to the German Sparkassen.
(Photo: picture alliance / Bildagentur-online / Joko)
Frankfurt In the poker game about the takeover of the Sparkasse real estate financier Berlin Hyp, everyone involved increases their stakes. The bidders LBBW, Helaba and Deka have improved their offers since the beginning of November, several people familiar with the process told Handelsblatt. The offers are now all very close together.
According to financial circles, however, there is one crucial difference: LBBW wants to pay the purchase price, which should amount to more than one billion euros, in cash. Deka and Helaba, on the other hand, would like to settle a large part of it with their own shares. Deka, Helaba and LBBW did not want to comment on this.
Berlin Hyp is currently owned by the Sparkassen and, together with Berliner Sparkasse, is part of Landesbank Berlin Holding. The savings banks want to dissolve this holding company, among other things because of the demand of the financial supervisory authority for a more stringent management of the group companies.
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