Sunday, August 10, 2008

HVB Seeking Sale Leaseback of 200 Bank Branches in Germany

ADVFN News / Thomson Financial - August 8, 2008

Bayerische Hypo-und-Vereinsbank (HVB), the German unit of UniCredit Spa, is looking for buyers of its estimated 200 branch building under a sale and leaseback deal arrangement, according to Financial Times Deutschland, citing a spokesman for HVB.

It said HVB wants to sell its building properties, including those housing the main administration offices in Munich and Hamburg, to some real estate investors.

It said HVB wants to generate a mid-range three-digit million euros proceeds and is aiming to complete the deal by the end of the year. Sphere: Related Content

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