FRANKFURT --(Dow Jones)--  Real-estate financing company Hypo Real Estate Holding agreed to acquire public-financing bank Depfa Bank in a cash-and-stock deal valued at €5.7bn ($7.9bn).

The deal seeks to draw synergies from combining the German banking company's predominantly commercial real-estate business with Dublin-based Depfa Bank's public-financing business.

Hypo real estate is seeking wider reach by buying Depfa

Ragnhild Kjetland

Dexia

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