Talks between Germany's four main banks, creditors of the insolvent construction group Philip Holzmann, and Heijmans, the Dutch construction company which sought to acquire it, have broken down after the banks declined to cover a large part of the deal's financing.
According to Heijmans, the banks also could not meet one of its conditions that Holzmann's risk profile should not change in an "irresponsible" way.
