Sale of Deutsche Hypo allegedly back on the table
Nord/LB is again considering selling off its real estate financing unit Deutsche Hypo, according to Reuters. A sale had also been considered in the summer of 2017, when the investment bank Rothschild was said to be sounding out the market, however those plans were abandoned in January 2018. Reuters, citing several insiders, reported that the sale of Deutsche Hypo has been brought back to the table in the current efforts to stabilise Nord/LB, which has fallen into difficulties through ship loans. Nord/LB has declined to confirm or deny this. According to Reuters, however, the decision is still completely open. It seems certain that Nord/LB will not be privatized, but rather restructured by its public owners. As previously reported, the state of Lower Saxony and the savings banks intend to pump €3.7bn into the institution.
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