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.
