COMPANIES The German government is at loggerheads with investor Christopher Flowers about the rescue of stricken lender Hypo Real Estate, in which a group led by his US private equity firm JC Flowers holds 24.9 per cent, the single largest stake.
Government officials said JC Flowers was proving “un-co-operative” about Berlin’s wish to take control of HRE via a 75 per cent stake, a prelude to injecting capital and liquidity and restructuring the bank, which has been hard hit by the credit crunch.
