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DLF
BSE Announcements on DLF
Posted by :
MMB MessengerTracked by: 0 Boarder
JM Financial Consultants Pvt Ltd (Manger to the Buy Back) on behalf of DLF Ltd ("Target Company") has issued this Public Announcement ("PA") to the Equity Shareholders / Beneficial Owners of the equity shares of the Target Company, pursuant to the provisions of regulations 8(1) Read with 15(c) of the Securities & Exchange Board of India (Buy Back of Securities) Regulations, 1998 for the time being in force including any statutory modifications and amendments from time to time ("Buy Back Regulations") and contains the disclosure as specified in schedule II to the Buy-Back Regulations.
With Reference to the Public Notice Published by the Company on July 10, 2008(in compliance with Regulation 5A of the BuyBack Regulations("Notice")), the exemption sought and the SEBI Order, the Board of Directors of the Company (Board) approved this Public Announcement.
The Buy Back Offer
The Company hereby announces the Buy-back ("buy-back") of fully paid-up equity shares of the face value of Rs 2/- each ("Equity Shares") not exceeding 2,20,00,000 equity shares ("maximum Offer Shares") and a minimum number of 55,00,000 Equity Shares ("minimum Offer Shares"), from the existing owners of Equity Shares other than the persons in Control at a price not exceeding Rs 600 per Equity Shares ("Maximum Offer Price") payable in cash, for an aggregate amount not exceeding Rs 1,100 crore ("Maximum Offer Size"). The maximum Offer Size represents 9.80% of the aggregate of the Companys total paid-up equity capital and free reserves as on March 31, 2008 (the date of the latest standalone audited accounts)
The Buy-Back will be implemented by the Company through the methodology of "Open Market Purchases through Stock Exchanges" using the electronic trading facilities of the Bombay Stock Exchange Ltd ("BSE") and the National Stock Exchange of India Ltd ("NSE") ("Stock Exchanges"), in accordance with the provisions of Sections 77A, 77B and other applicable provisions of the Companies Act, 1956 ("the Act") read with Article 23A of the Articles of Association of the Company and the Buy-Back Regulations, in the manner and on such terms and conditions as determined by the Board and disclosed in the PA.
Proposed Time Table:
Date of Board Resolution - July 10, 2008 approving the Buy-back
Date of Opening of Buyback - October 15, 2008
Acceptance of Equity Shares - Within the relevant payout dates of the Stock Exchanges.
Verification of Equity Shares accepted in the physical mode - within 7 days of the relevant pay out dates.
Extinguishment of Equity Shares - Within 7 days of acceptance or verification of Equity Shares as mentioned above.
Last Date for the Buyback - July 09, 2009 (i.e. 12 months from the date of Board resolution). However, the Board in its absolute discretion may decide to close the Buy-back at an earlier date in the event the Minimum Offer shares have been purchased under the Buy-back, even if the maximum offer size has not been reached or the maximum offer shares have not been bought back, by giving appropriate notice of such date and completing all formalities in this regard as per relevant laws and regulations. There would be a completion of all payment obligations in respect of the Buy-Back prior to the last date of the Buy-back....
NSE Announcements on DLF
Posted by : MMB MessengerTracked by: 0 Boarder
JM Financial Consultants Pvt Ltd and DSP Merrill Lynch Limited has informed the Exchange regarding a public announcement dated September 30, 2008 made pursuant to the provisions of Regulations 8(1) read with 15(c) of the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 1998 for the time being in force including any statutory modifications and amendments from time to time ("Buy-Back Regulations") and contains the disclosures as specified in the Schedule II to the Buy-Back Regulations. Details of Buy-Back Offer and Offer Price: The Company (DLF Limited) hereby announces the Buy-back ("Buy-back") of fully paid-up equity shares of the face value of Rs. 2 each ("Equity Shares") not exceeding 2,20,00,000 Equity Shares ("Maximum Offer Shares") and a minimum number of 55,00,000 Equity Shares ("Minimum Offer Shares"), from the existing Owners of Equity Shares other than the Persons in Control at a price not exceeding Rs. 600 per Equity Share (the "Maximum Offer Price") payable in cash, for an aggregate amount not exceeding Rs. 1,100 crore ("Maximum Offer Size"). The Maximum Offer Size represents 9.80% of the aggregate of the Companys total paid-up equity capital and free reserves as on March 31, 2008 (the date of the latest standalone audited accounts). The Date of opening of the Buy-back is October 15, 2008 and the Last Date for the Buy-back is July 09, 2009 (i.e. 12 months from the date of the Board Resolution). A copy of the Public Announcement - Buyback of Shares shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
USA v/s India per capita income
Posted by :
andy_dTracked by: 0 Boarder
DELHI property will fall 50-70 percent ,donot buy any property for 3-4 years ,bulider will give offer from 20-30 percent discount ,but donot buy residential property ki halat abb kharab hone wali ha ,market down now below 13k First time of in the histroy
Indian market losse 10,000 point from high,
and 90 percent share losse 80 percent value
so donot BUY PROPERTY,IN DELHI,NCR,THERE IS NO MONEY NOW IN INDIA
No BODY READY FOR INVESTMENT,
India se investor baag chuke ha ,
u r right per jayee to jayee kanha after 1100-1856 MOHAMAD GAJNAVI NE ATTACK KIYA AUR mughal were ruler on india,1856-1950 ENGLISH MAN RULER ,itne gulaam rahe per kuch nahi sikha ,
sikha bas apno se ladana,castism,communisim many bad habits in society and social structure of soceity is backward and
if economic crises wil come in india we learn a very good lesson
and after independance our leaders signed many Hopless treaties and agreements with other conutires that r puuting adverse effect on economy
...
In reply to:
USA v/s India per capita income
Posted by : andy_d
DELHI property will fall 50-70 percent ,donot buy any property for 3-4 years ,bulider will give offer from 20-30 percent discount ,but donot buy residential property ki halat abb kharab hone wali ha ,market down now below 13k First time of in the histroy
Indian market losse 10,000 point from high,
and 90 percent share losse 80 percent value
so donot BUY PROPERTY,IN DELHI,NCR,THERE IS NO MONEY NOW IN INDIA
No BODY READY FOR INVESTMENT,
India se investor baag chuke ha , 
USA v/s India per capita income
Posted by : pkk07Tracked by: 0 Boarder
Your message and the one above say something very interesting.
We are a poor country (at 160th place, just above all the beggars) and foreign investors have fled us. Who will buy overpriced assets in India now?
Realty is dead......
In reply to:
USA v/s India per capita income
Posted by : andy_d
DELHI property will fall 50-70 percent ,donot buy any property for 3-4 years ,bulider will give offer from 20-30 percent discount ,but donot buy residential property ki halat abb kharab hone wali ha ,market down now below 13k First time of in the histroy
Indian market losse 10,000 point from high,
and 90 percent share losse 80 percent value
so donot BUY PROPERTY,IN DELHI,NCR,THERE IS NO MONEY NOW IN INDIA
No BODY READY FOR INVESTMENT,
India se investor baag chuke ha ,
USA v/s India per capita income
Posted by : andy_dTracked by: 0 Boarder
DELHI property will fall 50-70 percent ,donot buy any property for 3-4 years ,bulider will give offer from 20-30 percent discount ,but donot buy residential property ki halat abb kharab hone wali ha ,market down now below 13k First time of in the histroy
Indian market losse 10,000 point from high,
and 90 percent share losse 80 percent value
so donot BUY PROPERTY,IN DELHI,NCR,THERE IS NO MONEY NOW IN INDIA
No BODY READY FOR INVESTMENT,
India se investor baag chuke ha ,...
In reply to:
USA v/s India per capita income
Posted by :
Bhavishyavani
Table 3: National Average Per Capita Income using Atlas method
Ranking Country Per Capita Income in US$
1 Bermuda N/A
2 Luxembourg 43,940
3 Norway 43,350
4 Switzerland 39,880
5 United States 37,610
6 Liechtenstein N/A
7 Japan 34,510
8 Denmark 33,750
9 Channel Islands N/A
10 Iceland 30,810
11 Sweden 28,840
12 United Kingdom 28,350
13 Finland 27,020
14 Ireland 26,960
15 San Marino N/A
16 Austria 26,720
17 Cayman Islands N/A
18 Netherlands 26,310
19 Belgium 25,820
20 Monaco N/A
21 Hong Kong 25,430
22 Germany 25,250
23 France 24,770
24 Canada 23,930
27 Australia 21,650
28 Italy 21,560
29 Singapore 21,230
35 Spain 16,990
37 Kuwait 16,340
38 Israel 16,020
40 New Zealand 15,870
41 Bahamas 14,920
43 Macao 14,600
45 Greece 13,720
47 Cyprus 12,320
49 Portugal 12,130
50 SKorea 12,030
51 Slovenia 11,830
52 Puerto Rico 10,950
53 Bahrain 10,840
54 Malta 9,260
55 Barbados 9,270
56 Antigua and Barbuda 9,160
57 Saudi Arabia 8,530
59 Oman 7,830
61 Palau 7,500
62 Seychelles 7,480
63 Trinidad and Tobago 7,260
65 St. Kitts and Nevis 6,880
66 Czech Republic 6,740
67 Hungary 6,330
68 Mexico 6,230
70 Croatia 5,350
71 Poland 5,270
72 Estonia 4,960
73 Slovak Republic 4,920
74 Lithuania 4,490
75 Chile 4,390
76 Costa Rica 4,280
77 Panama 4,250
78 Mauritius 4,090
79 Latvia 4,070
80 St. Lucia 4,050
81 Lebanon 4,040
82 Uruguay 3,820
83 Grenada 3,790
84 Malaysia 3,780
85 Argentina 3,650
86 Gabon 3,580
87 Venezuela, RB 3,490
88 Botswana 3,430
89 Dominica 3,360
90 Belize 3,190
90 St. Vincent and the Grenadines 3,300
92 Turkey 2,790
93 South Africa 2,780
94 Jamaica 2,760
95 Brazil 2,710
95 Marshall Islands 2,710
97 Russian Federation 2,610
99 Fiji 2,360
100 Romania 2,310
101 Maldives 2,300
102 Tunisia 2,240
103 El Salvador 2,200
104 Thailand 2,190
105 Peru 2,150
106 Bulgaria 2,130
107 Micronesia, Fed. Sts. 2,090
108 Dominican Republic 2,070
109 Suriname 1,940
110 Iran, Islamic Rep. 2,000
111 Macedonia, FYR 1,980
112 Guatemala 1,910
112 Serbia and Montenegro 1,910
114 Algeria 1,890
115 Namibia 1,870
116 Jordan 1,850
117 Colombia 1,810
118 Ecuador 1,790
119 Kazakhstan 1,780
120 Albania 1,740
121 Samoa 1,600
122 Belarus 1,590
123 Bosnia and Herzegovina 1,540
124 Cape Verde 1,490
124 Tonga 1,490
126 Egypt, Arab Rep. 1,390
127 Swaziland 1,350
128 Morocco 1,320
129 Vanuatu 1,180
130 Syrian Arab Republic 1,160
131 Turkmenistan 1,120
132 West Bank and Gaza 1,110
133 China 1,100
133 Paraguay 1,100
135 Philippines 1,080
137 Honduras 970
137 Ukraine 970
139 Armenia 950
140 Sri Lanka 930
141 Djibouti 910
142 Guyana 900
143 Bolivia 890
144 Kiribati 880
145 Georgia 830
146 Azerbaijan 810
146 Indonesia 810
148 Equatorial Guinea 930
149 Angola 740
150 Nicaragua 730
152 Bhutan 660
152 Côte d`Ivoire 660
154 Cameroon 640
154 Congo, Rep. 640
156 Solomon Islands 600
157 Lesotho 590
157 Moldova 590
159 Senegal 550
160 India 530
161 Yemen, Rep. 520
162 Papua New Guinea 510
163 Zimbabwe 480
164 Mongolia 480
164 Vietnam 480
166 Pakistan 470
167 Sudan 460
168 Comoros 450
169 Benin 440
170 Guinea 430
170 Mauritania 430
170 Timor-Leste 430
173 Uzbekistan 420
174 Bangladesh 400
175 Kenya 390
176 Haiti 380
176 Zambia 380
178 Kyrgyz Republic 330
179 Ghana 320
179 Lao PDR 320
179 Nigeria 320
179 São Tomé and Principe 320
183 Cambodia 310
183 Gambia, The 310
183 Togo 310
186 Burkina Faso 300
187 Madagascar 290
187 Mali 290
187 Tanzania 290
190 Central African Republic 260
191 Chad 250
192 Nepal 240
192 Uganda 240
194 Rwanda 220
195 Mozambique 210
196 Niger 200
197 Eritrea 190
197 Tajikistan 190
200 Malawi 170
201 Sierra Leone 150
202 Guinea-Bissau 140
205 Liberia 130
206 Burundi 100
206 Congo, Dem. Rep. 100
208 Ethiopia 90
DLF`s Rs 1,100 cr buyback to start next week
Posted by : abhishek.anandTracked by: 1 Boarder
How can I participate in the buyback? Please shed some light on this. ...
In reply to:
DLF`s Rs 1,100 cr buyback to start next week
Posted by : day_trader
Country`s largest real estate firm DLF is likely to start its Rs 1,100-crore buyback offer next week.
At a meeting held in New Delhi, DLF`s board of directors approved the public announcement for the buyback that entails start of the offer next week, company sources said.
The board approval is a statutory requirement after approval from market regulator SEBI that DLF had received earlier this month.
Shares of the company were trading at Rs 342.15, down 2.41 per cent on the BSE in morning trade.
Market regulator SEBI had given the go ahead for the buyback proposal of DLF, entailing the buyback of shares of the company worth Rs 1,110 crore from the capital market at a price not exceeding Rs 600 per share.
The company had earlier said that the actual buyback price would depend upon the market conditions at the time of announcement.
Earlier, in July this year DLF had announced a buyback of up to 2.2 crore equity shares at a price not exceeding Rs 600 per share. The shares would be repurchased from the BSE and NSE through open market deals.
DLF has appointed J M Financial and Merrill Lynch as merchant bankers for the buyback plan.
USA v/s India per capita income
Posted by : BhavishyavaniTracked by: 0 Boarder
Table 3: National Average Per Capita Income using Atlas method
Ranking Country Per Capita Income in US$
1 Bermuda N/A
2 Luxembourg 43,940
3 Norway 43,350
4 Switzerland 39,880
5 United States 37,610
6 Liechtenstein N/A
7 Japan 34,510
8 Denmark 33,750
9 Channel Islands N/A
10 Iceland 30,810
11 Sweden 28,840
12 United Kingdom 28,350
13 Finland 27,020
14 Ireland 26,960
15 San Marino N/A
16 Austria 26,720
17 Cayman Islands N/A
18 Netherlands 26,310
19 Belgium 25,820
20 Monaco N/A
21 Hong Kong 25,430
22 Germany 25,250
23 France 24,770
24 Canada 23,930
27 Australia 21,650
28 Italy 21,560
29 Singapore 21,230
35 Spain 16,990
37 Kuwait 16,340
38 Israel 16,020
40 New Zealand 15,870
41 Bahamas 14,920
43 Macao 14,600
45 Greece 13,720
47 Cyprus 12,320
49 Portugal 12,130
50 SKorea 12,030
51 Slovenia 11,830
52 Puerto Rico 10,950
53 Bahrain 10,840
54 Malta 9,260
55 Barbados 9,270
56 Antigua and Barbuda 9,160
57 Saudi Arabia 8,530
59 Oman 7,830
61 Palau 7,500
62 Seychelles 7,480
63 Trinidad and Tobago 7,260
65 St. Kitts and Nevis 6,880
66 Czech Republic 6,740
67 Hungary 6,330
68 Mexico 6,230
70 Croatia 5,350
71 Poland 5,270
72 Estonia 4,960
73 Slovak Republic 4,920
74 Lithuania 4,490
75 Chile 4,390
76 Costa Rica 4,280
77 Panama 4,250
78 Mauritius 4,090
79 Latvia 4,070
80 St. Lucia 4,050
81 Lebanon 4,040
82 Uruguay 3,820
83 Grenada 3,790
84 Malaysia 3,780
85 Argentina 3,650
86 Gabon 3,580
87 Venezuela, RB 3,490
88 Botswana 3,430
89 Dominica 3,360
90 Belize 3,190
90 St. Vincent and the Grenadines 3,300
92 Turkey 2,790
93 South Africa 2,780
94 Jamaica 2,760
95 Brazil 2,710
95 Marshall Islands 2,710
97 Russian Federation 2,610
99 Fiji 2,360
100 Romania 2,310
101 Maldives 2,300
102 Tunisia 2,240
103 El Salvador 2,200
104 Thailand 2,190
105 Peru 2,150
106 Bulgaria 2,130
107 Micronesia, Fed. Sts. 2,090
108 Dominican Republic 2,070
109 Suriname 1,940
110 Iran, Islamic Rep. 2,000
111 Macedonia, FYR 1,980
112 Guatemala 1,910
112 Serbia and Montenegro 1,910
114 Algeria 1,890
115 Namibia 1,870
116 Jordan 1,850
117 Colombia 1,810
118 Ecuador 1,790
119 Kazakhstan 1,780
120 Albania 1,740
121 Samoa 1,600
122 Belarus 1,590
123 Bosnia and Herzegovina 1,540
124 Cape Verde 1,490
124 Tonga 1,490
126 Egypt, Arab Rep. 1,390
127 Swaziland 1,350
128 Morocco 1,320
129 Vanuatu 1,180
130 Syrian Arab Republic 1,160
131 Turkmenistan 1,120
132 West Bank and Gaza 1,110
133 China 1,100
133 Paraguay 1,100
135 Philippines 1,080
137 Honduras 970
137 Ukraine 970
139 Armenia 950
140 Sri Lanka 930
141 Djibouti 910
142 Guyana 900
143 Bolivia 890
144 Kiribati 880
145 Georgia 830
146 Azerbaijan 810
146 Indonesia 810
148 Equatorial Guinea 930
149 Angola 740
150 Nicaragua 730
152 Bhutan 660
152 Côte d`Ivoire 660
154 Cameroon 640
154 Congo, Rep. 640
156 Solomon Islands 600
157 Lesotho 590
157 Moldova 590
159 Senegal 550
160 India 530
161 Yemen, Rep. 520
162 Papua New Guinea 510
163 Zimbabwe 480
164 Mongolia 480
164 Vietnam 480
166 Pakistan 470
167 Sudan 460
168 Comoros 450
169 Benin 440
170 Guinea 430
170 Mauritania 430
170 Timor-Leste 430
173 Uzbekistan 420
174 Bangladesh 400
175 Kenya 390
176 Haiti 380
176 Zambia 380
178 Kyrgyz Republic 330
179 Ghana 320
179 Lao PDR 320
179 Nigeria 320
179 São Tomé and Principe 320
183 Cambodia 310
183 Gambia, The 310
183 Togo 310
186 Burkina Faso 300
187 Madagascar 290
187 Mali 290
187 Tanzania 290
190 Central African Republic 260
191 Chad 250
192 Nepal 240
192 Uganda 240
194 Rwanda 220
195 Mozambique 210
196 Niger 200
197 Eritrea 190
197 Tajikistan 190
200 Malawi 170
201 Sierra Leone 150
202 Guinea-Bissau 140
205 Liberia 130
206 Burundi 100
206 Congo, Dem. Rep. 100
208 Ethiopia 90
...
DLF touches 52-week low
Posted by : GuestTracked by: 0 Boarder
10:22 AM | House of Rep approves new bailout package - Economy
10:19 AM | Exiting Singur as have promises to keep: Ra... - Business
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...
In reply to:
DLF touches 52-week low
Posted by : MMB Messenger
DLF has touched a 52-week low of Rs 308. At 10:23 am, the share was quoting at Rs 309.70, down Rs 26.7, or 7.94%. It was trading with volumes of 357,089 shares. On Friday the share closed down 2.56% or Rs 8.85 at Rs 336.40.
DLF touches 52-week low
Posted by : MMB MessengerTracked by: 0 Boarder
DLF has touched a 52-week low of Rs 308. At 10:23 am, the share was quoting at Rs 309.70, down Rs 26.7, or 7.94%. It was trading with volumes of 357,089 shares. On Friday the share closed down 2.56% or Rs 8.85 at Rs 336.40. ...
buy dlf
Posted by : prashant_p1pTracked by: 0 Boarder
U right Pagal,
U r pagal, but u can talk good things, well most imp thing is Right things u can judge, as I know, at 30th Sept SEBI given Green signal to DLF to Buy Back Shares of 1100 Cr, May be the rate will not be Rs.600 but it`ll be upper rates as compare current levels, So watch the Volumes, the Buying is going on, wen u ppl will recognize this the rate will be peak so if u had sold it at lower rates, its time to buy again.
Regards
Prashant ...
In reply to:
buy dlf
Posted by : pagal hui mai
buy dlf blow 330.target 500.time origon 6-8 month.it`s a good chance to get a good compeny on low price.
EXIT ALL REALTY/INFRA
Posted by :
avrochanTracked by: 0 Boarder
Ladies and Gentlemen, get lost from all realty/infra. U.S. 700 Billion is simply a hoax, they dont have any funds, jobless rates increased, Indians in mass are returning from U.S. Take whatever money left and save it. =Avro Chan=...
buy dlf
Posted by : pagal hui maiTracked by: 0 Boarder
dear,
i don`t talk nonsense.it will 500 in 6-8 month.keep long term view.it`s a front line compeny in india it has a good land bank.u have a chance to get a good compeny in low price.buy it and hold for 5 year it will 1000+.
happy investing...
In reply to:
buy dlf
Posted by : pkk07
Dont talk nonsense.
This stock is dead for long investing.
DLF`s Rs 1,100 cr buyback to start next week
Posted by : day_traderTracked by: 1 Boarder
Country`s largest real estate firm DLF is likely to start its Rs 1,100-crore buyback offer next week.
At a meeting held in New Delhi, DLF`s board of directors approved the public announcement for the buyback that entails start of the offer next week, company sources said.
The board approval is a statutory requirement after approval from market regulator SEBI that DLF had received earlier this month.
Shares of the company were trading at Rs 342.15, down 2.41 per cent on the BSE in morning trade.
Market regulator SEBI had given the go ahead for the buyback proposal of DLF, entailing the buyback of shares of the company worth Rs 1,110 crore from the capital market at a price not exceeding Rs 600 per share.
The company had earlier said that the actual buyback price would depend upon the market conditions at the time of announcement.
Earlier, in July this year DLF had announced a buyback of up to 2.2 crore equity shares at a price not exceeding Rs 600 per share. The shares would be repurchased from the BSE and NSE through open market deals.
DLF has appointed J M Financial and Merrill Lynch as merchant bankers for the buyback plan.
...
Hypo Real Estate Holding AG bankrupt
Posted by : vtycoonTracked by: 0 Boarder
Oct. 5 (Bloomberg) -- The German government led talks to salvage a 35 billion-euro ( billion) bailout plan for Hypo Real Estate Holding AG today after the ailing property lender said commercial banks withdrew their support.
``We will see how we can clean up the mess that has been presented to us,`` Finance Ministry spokesman Torsten Albig said in a phone interview in Berlin. ``Everyone involved in this is hopefully aware of their responsibilities.``
The government and the Bundesbank have said that Hypo Real Estate, the nation`s second-biggest property lender, is too big to fail. The negotiations to save it occur as the Belgian government today is attempting rescue Fortis, that nation`s largest financial-services company, after a previous bailout also went awry amid the intensifying global credit crunch.
``All parties involved including banks and insurers are being invited by the government to meet once again, and I`m pretty shocked that this bank`s management has revealed another liquidity gap of an unforeseen size,`` German Finance Minister Peer Steinbrueck said in Berlin today in comments broadcast by ARD television. ``We will have to start over again from last weekend`s meetings. Hypo Real Estate has to be stabilized otherwise the damage would be unpredictable.``
Steinbrueck`s comments ``indicate that in the end it will boil down to a bailout,`` said Kerstin Vitvar, a Munich-based analyst at UniCredit SpA who has a ``sell`` rating on the hares. ``Shareholders will end up almost empty-handed.``
Funding Requirements
Hypo Real Estate`s shares have declined 79 percent this year, valuing the Munich-based company at 1.6 billion euros.
Hypo Real Estate`s financing needs exceeded the bailout plan guarantee, German newspaper Die Welt reported yesterday, citing unidentified people in the finance industry. It will need 20 billion euros by the end of next week and 50 billion euros by the end of the year, according to the newspaper. As much as 100 billion euros may be needed to shore up the bank`s finances by the end of 2009, Die Welt said.
``A financing need of 100 billion euros as reported by Die Welt is absurd out of today`s perspective,`` Hypo Real Estate spokesman Hans Obermeier said in a telephone interview today.
Heiner Herkenhoff, a spokesman for the German BDB banking association, declined to comment on the figures. Bundesbank spokesman Christian Burckhardt said Bundesbank President Axel Weber is participating as an adviser to the government in the discussions.
Failed Plan
``The financing situation has further deteriorated over the past week because of the speculation about a possible wind-down of the company,`` Obermeier said.
In the failed rescue plan, the European Central Bank and the Bundesbank planned to contribute jointly 20 billion euros to a credit line for Hypo Real Estate, while a group of unidentified banks agreed to provide another 15 billion euros. The plan called for Hypo Real Estate to use 42 billion euros in assets, mostly debt owed by government borrowers, as collateral.
The lender sought the lifeline after its Dublin-based Depfa Bank Plc unit, which specializes in government lending and depends on now-closed money markets for funding, failed to get short-term funding amid the credit crunch.
Failure to provide the rescue package ``may have triggered unpredictable consequences for the German financial and economic system similar to those of the collapse of U.S. financial group Lehman Brothers,`` the Bundesbank and BaFin said in a joint letter dated Sept. 29 and addressed to Finance Minister Steinbrueck.
J.C. Flowers
``If we had not acted, the bank`s crisis wouldn`t have just hurt the financial sector, but its network of business would have hurt the real economy, in Germany and beyond,`` Steinbrueck said the same day.
Hypo Real Estate, run by Chief Executive Officer Georg Funke, 53, since it was spun off from HVB Group in 2003, reported a surprise 390 million-euro writedown on collateralized debt obligations on Jan. 15. The company said Aug. 13 that second- quarter pretax profit plunged 95 percent because of further markdowns on debt-related investments.
A group led by J.C. Flowers & Co., the buyout firm run by Christopher Flowers, bought a 24 percent stake in Hypo Real Estate for about 1.13 billion euros in June.
The global financial crisis that prompted Lehman Brothers Holding Inc.`s Sept. 15 bankruptcy filing is weighing on Europe. Belgium and France on Sept. 30 threw Dexia SA a 6.4 billion-euro lifeline. UniCredit SpA is seeking to raise boost its capital, and the Icelandic government is reportedly trying to arrange a 10 billion-euro injection into its banking system.
European leaders yesterday pledged to bail out their own nations` banks while stopping short of a regional rescue effort to deal with the global credit crisis. ...
buy dlf
Posted by : fmcgbitesTracked by: 0 Boarder
you are right, real fall in dlf has yet to unfold. STAY AWAY from all realty stocks....
In reply to:
buy dlf
Posted by : pkk07
Dont talk nonsense.
This stock is dead for long investing.
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