German real estate company bailed out

Published Monday October 6th, 2008

BERLIN - The German Finance Ministry says government officials and private banks have agreed to a new 50 billion euro (US$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).

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