As it seeks to find a suitor to take it over Germany’s HSH Nordbank has put the holding company of Singapore’s FSL Trust up for sale. HSH is the sole shareholder in FSL Holdings.
The struggling trust’s management team said in a release on Thursday that they view the potential sale as a positive.
“The Trustee-Manager views this as a positive development for the Trust and anticipates that with a long-term strategic investor controlling the Sponsor, prospects for a refinancing and/or extension of the Trust’s indebtedness should be greatly improved,” FSL said in a release.
HSH has a number of private equity names circling with a view to selling the whole bank within the next couple of months.