Can I park here?
Question: How do German banks make a profit these days? Answer: By flogging off the family silver. Deutsche Bank has done it, so has HypoVereinsbank. Officially it’s called "portfolio adjustment" but between you and me it’s the same old thing. In February 2003, Hypo-Vereinsbank sold its 32.1 percent stake in the southern German brewer Allgäuer Brauhaus (130,000 hl) to the majority-owner Radeberger Group (8.8 m hl in 2001) which already controlled 57.3 percent. The value of the transaction was not disclosed. That leaves HypoVereinsbank with a 55 percent stake in the 7.4 million-hl-brewing group Brau + Brunnen (Jever, Berliner Pilsner etc.), which it has been keen to sell for some time but without any luck.6 billion. Does Haindl want to become a brewer? Highly unlikely. Stay tuned..
Select offer and read on
6 print issues