EuropeFinance and Insurance

Three private equity firms circle around HSH Nordbank

Three private equity firms have lodged bids for German ship finance giant HSH Nordbank, according to Reuters.

Apollo, Cerberus and J C Flowers are all reported as bidding for the state-owned financial institution, which has to privatise under EU laws. J C Flowers already has a 5% stake in HSH Nordbank.

The bank has around EUR6bn of shipping loans on its books at present. Hit by the downturn in shipping the bank has been through a major restructuring, selling off many assets in recent years.

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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