The European Commission approves the aid to German bank on the basis of an in‑depth restructuring plan (Hypo Real estate)

"The rescue and restructuring of Hypo Real estate"*1. Introduction In this article, we briefly describe the case of State aid for Hypo Real Estate (HRE) [1]. HRE is a German banking group that got into difficulties in 2008 and was subsequently rescued and nationalised by Germany. In July 2011, the Commission approved the aid to HRE on the basis of an in‑depth restructuring plan, which is currently being implemented. 2. Description of HRe and its difficulties2.1. The history of HRE In the autumn of 2002, the German HVB bank group decided, as part of a major reorganisation plan, to spin off its international commercial real estate finance business and the domestic mortgage bank participations, establishing HRE in 2003 as a specialised commercial real estate finance bank. In the

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Max Lienemeyer, Marcel Magnus, Karl Soukup, The European Commission approves the aid to German bank on the basis of an in‑depth restructuring plan (Hypo Real estate), 19 July 2011, e-Competitions Bulletin Financial services, Art. N° 54596

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