DThe Münchener Hypothekenbank has secured MMWarburg & Co Hypothekenbank AG, which has been up for sale for some time. A purchase agreement was signed on Thursday, said Münchener-Hyp, which is independent in the cooperative sector. She intends to acquire all shares of the previous owners – ie MMWarburg & Co and Landeskrankenhilfe VVaG. Above all, the owners of the Warburg-Bank will be happy about the undisclosed purchase price. Christian Olearius and Max Warburg had to pay back 155 million euros in taxes in the cum-ex scandal for the years 2007 to 2011. This is probably one of the reasons why they recently sold Degussa Bank to OLB.
With a balance sheet total of EUR 1.8 billion, Warburg Hypothekenbank operates commercial real estate financing with a focus on offices and retail. “With the planned takeover, we are acquiring a low-risk loan portfolio that is very well suited to our bank,” said Louis Hagen, CEO of Münchener-Hyp. The meeting of representatives of Münchener-Hyp and the authorities still have to approve the transaction.