BERLIN (dpa-AFX) - The financial services provider Hypoport is merging parts of its divisions following the slump in its real estate financing business. The brokerage, financing and valuation of private residential real estate will be bundled in the new "Real Estate & Mortgage Platforms" segment, as the SDax-listed company announced in Berlin on Friday. Everything relating to the financing of consumers and companies will land in the "Financing Platforms" segment. Only the insurance division remains unchanged. The number of segments will shrink from four to three.

In the reorganization, the business of several Group subsidiaries such as Europace and Finanzvertrieb Dr. Klein will be torn apart - depending on whether it relates to real estate or the financing of private or corporate customers. CEO Ronald Slabke hopes that the new structure will lead to greater efficiency and less complexity./stw/mis