Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
On 9 August 2006 the German banking company Allgemeine Hypothekenbank Rheinboden (AHBR), a specialist of residential and commercial real estate projects, announced its plans to cut a third of its staff until the end of 2008. This means the cut of about 75 jobs out of a current 225. Most of the jobs will be shed in 2006. Even though AHBR is located in Frankfurt, other units may be affected too. In 2005, AHBR, a former subsidiary of the German holding BGAG, was acquired by US-based private equity investor Lone Star. The job cuts follow a decision by Lone Star to concentrate AHBR's business on commercial real estate projects.
Eurofound (2006), AHBR Allgemeine Hypothekenbank Rheinboden, Merger/Acquisition in Germany, factsheet number 63899, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63899.