MUNICH, Germany, July 23, 2007 (PRIME NEWSWIRE) -- The financial services company MLP and mortgage broker Interhyp will engage in a joint venture. "MLP Hyp" will provide MLP consultants with access to Interhyp's product and system platform for residential mortgages as well as with dedicated support by mortgage specialists. MLP customers will benefit from an independent selection from a wide range of products combined with a high level of service provided by the individualized MLP consulting approach. The interest rates on offer will be significantly below those offered by traditional branch banks.
In future MLP will conduct its residential mortgage business through the new company. The joint venture will be based near Heidelberg and will commence operations at the end of the year. Interhyp will hold 50.2 per cent of the capital in MLP Hyp GmbH, while MLP will hold 49.8 per cent. The company will be operationally managed by Interhyp AG.
Additional information:
ISIN: DE 0005121701 Security identification number: 512 170 Listing: Official market (Prime Standard) of the Frankfurt Stock Exchange Registered head office of the company: Munich, Germany