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Private equity firms circle German infrastructure bank DEPFA

3 Feb 2014

Investors including hedge funds Third Point and Och-Ziff, and private equity firms Blacsktone Group, Apollo Global Management and JC Flowers are amongst the bidders for German infrastructure bank DEPFA, Reuters has reported.

It is owned by German mortgage bank Hypo Real Estate, which was nationalised in the fallout from the financial crisis, with the agreement that DEPFA would be sold by the close of 2014. The public tender offer for the re-privatisation of DEPFA was launched in August 2013 .

DEPFA is valued at between €200m and 300m, the report said.

JC Flowers previously lost its stake in Hypo Real Estate in 2011 after a Munich court ruled that the squeeze out of minority stakeholders was an acceptable by-product of its nationalization.

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