Deutsche Bank transfers real estate operations to Eurohypo

Deutsche Bank AG has completed the transfer of some of its real estate activities to Eurohypo AG, as expected, in exchange for roughly 20 million Eurohypo shares.

Eurohypo said Deutsche Bank will receive 16,996,026 Eurohypo shares for its Real Estate Finance activities and 3,403,460 shares for the Real Estate Investment Banking activities of its London arm. In connection with the transfer, Eurohypo has decided to increase its capital by EUR 44.19 million and EUR 8.85 million respectively, it said late Monday.

Eurohypo was formed from the merger of the mortgage banks of Deutsche Bank, Allianz AG unit Dresdner Bank AG (G.DRS) and Commerzbank AG .

(source: Dow Jones Business News)

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