JC Flowers buys Expro

July 1 2008

US private equity firm JC Flowers has led a consortium to acquire German real estate investor Hypo Real Estate, paying around €1.1bn for a 24.9% stake.

The private equity syndicate has offered €22.50 per share, and is chasing a 25% representation on Hypo’s board. Other members of the consortium include Grove International Partners, a real estate private equity firm, and Shinsei Bank, a Japanese financial institution.

In a statement, JC Flowers said it would continue to support the expansion of the business, both in Germany and internationally, including the Japanese market.

The deal marks JC Flowers’ second acquisition in the German financial services sector. In bought a 27% stake in HSH Nordbank in August 2006. It closed its last fund, JC Flowers II, in 2006 with US$7bn.

Get limited access to our industry news, analysis and data, plus regular email updates

Email address

First name

first name

Last name

last name

Organisation

Country Phone number Job title

Job Title

To register, please review and accept our terms and conditions and privacy notice. I accept: sourceRegistration

Nearly there!

Register now

Login

Sign in to your account

Nearly there!

We have just sent you an email so you can verify your account. Please check your spam or junk folder just in case it’s been delivered there.