Bids come in for HSH Nordbank

Bids come in for HSH Nordbank

Germany’s HSH Nordbank, once one of the world’s top names in ship finance, is anticipating bids of around $237m to come in from British and American private equity funds to take it over, the Wall Street Journal is reporting.

The bank, owned by the German states of Schleswig-Holstein and Hamburg, has a deadline of the end of February to find a buyer or face liquidation.

Cerberus Capital Management and J.C. Flowers have submitted a joint bid, while Apollo Capital Management and London-based Socrates Capital have put in separate offers, the Wall Street Journal is reporting.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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