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Cerberus eyes HSH Nordbank

Cerberus eyes HSH Nordbank

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Private equity giant Cerberus Capital Mangement from New York is the latest firm to express an interest in buying Germany’s HSH Nordbank, according to German newspaper Handelsblatt.

Another US private equity company Apollo and China insurer Anbang have also revealed their intention to bid for the struggling bank, which has been hit hard by its exposure to shipping in recent years.

Another Chinese company, HNA Group, did initially express an interest in HSH but has since decided to pass. HNA, a diverse conglomerate with shipping connections in the form of Grand China Logistics and Jinhai Heavy Industries, has recently upped its stake in another German financial institution, Deutsche Bank.

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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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