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.