HSH Nordbank puts FSL Trust up for sale

HSH Nordbank puts FSL Trust up for sale

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.

 

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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