Germany’s DZ Bank is pushing ahead once again with plans to sell its DVB transport finance arm, Reuters is reporting.
Germany’s second-largest lender after Deutsche Bank has hired Goldman Sachs to advise it on the DVB sale.
DZ Bank had been in talks to sell DVB to Mitsubishi UFJ two years ago, but no deal ever materialised. Discussions with other parties took place also last summer without any deal being struck.
DZ Bank bought out minority shareholders in DVB recently, potentially facilitating a sale of the business.
Reuters estimates that German banks are holding at least $100bn in distressed shipping loans.