EuropeFinance and Insurance

DVB Bank up for sale

One of the world’s most famous names in ship finance could be sold off. Reuters is reporting that Germany’s DZ Bank has put subsidiary DVB in the shop window with a number of potential suitors signalling interest despite DVB’s hefty $522m interim loss reported earlier this month.

DZ Bank bought out minority shareholders in DVB recently, potentially facilitating a potential sale of the business.

It still remains unclear whether DZ will sell off DVB in its entirety or will try to sell tranches of its shipping loans in a manner similar to Royal Bank of Scotland’s recent offloading of its shipping portfolio. Boston Consulting has been hired to help DZ find a solution for loss making DVB.

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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