US private equity group
Hypo has been a prominent victim of the liquidity crisis. A sub-prime related write-down announced in January sent its shares plunging. Since then it has been looking for a long-term shareholder to stabilise its future. The Munich-based company’s prospects looked brighter earlier this week when it issued a €1bn (US$1.7bn) bond.
The JC Flowers-led offer of €22.50 represents a premium of 25% on the shareprice.