Hypo Real Estate’s annual general meeting on Monday passed a resolution on the squeeze-out of its minority shareholders, who will receive a cash settlement of EUR 1.30 per no-par value share. The squeeze out was demanded by state-owned German Financial Markets Stabilisation Fund (SoFFin), which currently holds 90% of HRE’s shares. The resolution to squeeze out minority shareholders was adopted with a 94.73% majority of votes present, while 95.1% of the capital entitled to vote attended the meeting. Once the squeeze-out has been completed HRE will in effect be fully state-owned.
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