HSH Nordbank meets with potential buyers

HSH Nordbank meets with potential buyers

Reuters is reporting that Germany’s HSH Nordbank has been in London meeting with potential buyers of the troubled German ship financier, with acquisitive Chinese firms to the fore.

HSH Nordbank, saddled by hundreds of millions of poor performing shipping loans, is looking to privatise next year. Reuters reports senior management has met with officials from Bank of China, while China Merchants Bank is likely to also show interest in the German bank. Buyout firms including Apollo and Lone Star have also had meetings with HSH.

HSH’s owners are the northern German states of Schleswig-Holstein and Hamburg who jointly hold 85% of the bank. They have appointed Citi to push through its sale.

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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