Hints and tips:
...The ambition marks a remarkable turnround for Hamburg Commercial, which in 2018, when it was then named HSH Nordbank, was sold to a consortium led by US private equity groups Cerberus and JC Flowers....
...Mr Krahnen pointed to the costly bailouts for publicly owned Landesbanken HSH Nordbank and NordLB, which cost the German taxpayer billions of euros....
...A group of 18 bond investors is suing private equity-owned German lender HSH Nordbank for €1.4bn in damages, accusing the recently privatised bank of “improperly” lowering the book value of capital issued...
...However, the wind-down of Düsseldorf-based WestLB and the sale of Hamburg-based HSH Nordbank to a consortium of private-equity groups led by Cerberus has changed the face of the Landesbanken sector....
...The US company has been one of the biggest buyers of non-performing loans on the continent, including large portfolios from HSH Nordbank and NordLB in Germany — many of them linked to shipping....
...Cerberus already is the largest shareholder in HSH Nordbank, another former Landesbank based in Hamburg, which it bought with US buyout group JC Flowers and other investors....
...As a consequence, WestLB was broken up in 2012, while HSH Nordbank and NordLB were, or are being, rescued with the help of government money....
...Before Christmas, buyout groups including Cerberus and JC Flowers closed the acquisition of HSH Nordbank, a €61bn-in-assets lender, from its previous owners, the states of Hamburg and Schleswig-Holstein....
...Cerberus is already the biggest shareholder in recently privatised Landesbank HSH Nordbank and among the largest investors in Germany’s largest lenders Deutsche Bank and Commerzbank, having invested an estimated...
...German public lender HSH Nordbank is on the cusp of being sold to US private equity groups JC Flowers and Cerberus in a deal worth about €1bn, say people with knowledge of the discussions....
...Flowers is buying German state-owned lender HSH Nordbank for €1bn in cash....
...HSH Nordbank, the ailing state-owned Landesbank, is to be sold for €1bn to a consortium of US private equity groups led by Cerberus and JC Flowers....
...German lender HSH Nordbank, which was the single biggest shipping lender in the world, sold impaired shipping loans at an average discount of 60 per cent on the face value....
...While Commerzbank and HSH Nordbank provisioned up to 65 per cent of the toxic loans’ book value, NordLB’s provisions are at just 44 per cent....
...Earlier this year, the buyout group teamed up with a consortium of investors including JC Flowers to acquire German lender HSH Nordbank....
...HSH Nordbank AG — once the world’s biggest shipping lender — may soon become the first German Landesbank to be privatised, as a deadline approaches for one of the country’s worst victims of the financial...
...US private equity firm JC Flowers will bid to take over ailing HSH Nordbank, despite having already made substantial losses on its investment in one of the world’s biggest shipping lenders, people familiar...
...HSH Nordbank chief executive Stefan Ermisch is treading a fine line between triumph and ignominy....
...That makes this deal different from the rescues over the past two years of Germany’s HSH Nordbank by US private equity groups led by Cerberus and JC Flowers, and of Portugal’s Novo Banco by Lone Star of...
...Cerberus alone has already forked out about €4bn for stakes in Deutsche Bank, Commerzbank and the recently privatised HSH Nordbank as well as a large portfolio of toxic shipping loans....
...It also led a deal to buy HSH Nordbank from two German states, and bought a large real estate business from Spanish lender BBVA....
...Earlier this year, HSH Nordbank, the ailing German state-owned Landesbank, was sold for €1bn to a consortium of US private equity groups led by Cerberus and JC Flowers....
...It recently turned its attention to the German banking sector, buying a stake in Commerzbank and purchasing HSH Nordbank alongside another investor. That may not come as too much of a surprise....
...Compare that with the fate of German bank HSH Nordbank, one of the banks at the top of Anbang’s wish list in better times for the group, which was sold to JC Flowers and Cerberus in February....
...The acquisitive Chinese conglomerate HNA is among the initial bidders for the German Landesbank HSH Nordbank, according to people familiar with the situation....
International Edition