J C Flowers and Cerberus Capital Management tipped to buy out HSH Nordbank

J C Flowers and Cerberus Capital Management tipped to buy out HSH Nordbank

The Wall Street Journal (WSJ) is reporting that American private equity firms J C Flowers and Cerberus Capital Management have sealed a deal to buy Germany’s HSH Nordbank for up to €1bn ($1.2bn).

The bank, owned by the German states of Schleswig-Holstein and Hamburg, must find a buyer by the end of February or face liquidation.

The bank sale has seen many parties from across the globe linked with buying what used to be one of the largest ship financiers in the world.

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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