Cerberus and Centerbridge make joint bid to buy 49% of NordLB

Cerberus and Centerbridge make joint bid to buy 49% of NordLB

Two American investors have made a joint bid to take a minority stake in Germany’s NordLB, a big name in ship finance.

Reuters has identified the two US companies as Cerberus and Centerbridge.

The bank, now state-run, declined to identify the companies by name but admitted it had received a joint offer from two unnamed financial investors and would review the bid with its owners.

Cerberus and Centerbridge had previously been in separate negotiations over the acquisition of a stake of up to 49% in NordLB. In the joint offer, the private equity groups are looking to acquire a 24.9% stake  eachin NordLB, according to a report carried by the Financial Times over the weekend.

NordLB is 65% owned by the German states of Lower Saxony and Saxony-Anhalt with regional savings banks holding the rest.

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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