EU Orders HSH Nordbank to Be Sold in 8 Billion-Euro Overhaul

/eu-clears-8-billion-euro-overhaul-of-hs

  • HSH Nordbank Starts Talks With Potential Buyers – gCaptain
    https://gcaptain.com/hsh-nordbank-starts-talks-potential-buyers

    HSH Nordbank AG will stick to its full-year outlook when it reports nine-months results next week, a crucial yardstick for potential investors as the bank starts to gauge interest in its planned privatization, according to a person with knowledge the plans.
    […]
    The states of Hamburg and Schleswig-Holstein, which hold about 85 percent of the bank, picked Citigroup to organize the sale, which was ordered by the European Union in a state-aid ruling and is scheduled to happen by 2018. Reuters reported on the pre-marketing talks late on Friday.

    • EU Orders HSH Nordbank to Be Sold in 8 Billion-Euro Overhaul - Bloomberg
      http://www.bloomberg.com/news/articles/2015-10-19/eu-clears-8-billion-euro-overhaul-of-hsh-nordbank-in-aid-ruling

      HSH Nordbank AG’s state owners were ordered to sell the Hamburg shipping lender by 2019 at the latest following a deal with the European Union to split it in two and unshackle it from more than 8 billion euros ($9.1 billion) in faulty loans.
      The company, which is 85 percent-owned by the northern German states of Hamburg and Schleswig-Holstein, will be divided into a holding unit and an operating subsidiary, which is to be sold no later than 24 months after binding EU approval expected by the middle of 2016, HSH, its owners and the European Commission said in separate statements on Monday. The EU agreed in principle to HSH transferring or selling the loans in the restructuring that will keep the bank afloat, while ruling that it should be wound down if the sales process fails.

    • HSH Nordbank — Wikipédia
      https://fr.wikipedia.org/wiki/HSH_Nordbank

      HSH Nordbank est une banque allemande publique dont le siège est situé à Hambourg et à Kiel.

      La banque a été créée lors de la fusion de la Hamburgische Landesbank et de la Landesbank Schleswig-Holstein en 2003.

      Son activité est centrée sur le financement des entreprises et le financement de projets à l’international. Depuis sa création, la banque s’est spécialisée dans le financement des énergies renouvelables, le financement des activités de transport naval et le secteur immobilier. HSH Nordbank figure en 2009 au second rang mondial des arrangeurs de financements internationaux dans les énergies renouvelables.

      La crise des subprimes de 2007 a fortement frappé la banque qui a dû enregistrer des pertes notamment en 2008, et qui a dû être recapitalisée par ses principaux actionnaires, les États de Hambourg et le Schleswig-Holstein.