Landesbank Baden-Württemberg to acquire Berlin Hyp from Landesbank Berlin.

Landesbank Baden-Württemberg, a full-service and central bank for the savings banks, agreed to acquire Berlin Hyp, a commercial real estate financing provider, from Landesbank Berlin, a provider of retail banking services. Financial terms were not disclosed. “We at LBBW are thus strengthening one of our core business areas, in which we have already been very successfully on a growth course for several years. At the same time, we are creating a large competence center for commercial real estate financing in the savings bank organization. In doing so, we are making another major contribution to pooling forces in the public banking sector,” Rainer Neske, LBBW CEO.