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BERLIN — The German Finance Ministry says government officials and private banks have agreed to a new 50 billion euro ($69 billion) deal to bail out Hypo Real Estate AG.
A ministry statement says the deal will add up to 15 billion euros ($21 billion) in credit to an earlier plan worth 35 billion euros ($48 billion).
Under the original plan, the German government would have injected 27 billion euros ($37 billion) into the country’s No. 2 commercial property lender and banks would have provided the rest.
That deal fell apart Saturday. German lawmakers and bankers spent Sunday devising a more aggressive solution.
The statement says the plan will assure Hypo’s solvency and “strengthen the financial community of Germany in difficult times.”
