Bailed out German bank to sell Depfa

Several private equity groups and hedge funds have expressed interest in public finance specialist Depfa, which the state-rescued German bank Hypo Real Estate has put on the block.

Lone Star, Apollo, JC Flowers, Cerberus, KKR and Blackstone are among those who have handed in expressions of interest in Depfa, according to sources. Depfa was based in the IFSC in Dublin when it was taken over by Hypo Real Estate in 2007 for €5.6bn.

Separately, a consortium of hedge funds including Third Point, which approached Hypo Real Estate over Depfa in Feb 2012, continue to be interested.