FRANKFURT Feb 7 German shipping finance
provider HSH Nordbank expects its sale to take a while
and to result in two separate deals, for its profitable core
bank on the one hand and its portfolio of non-performing loans
on the other hand, its chief executive said.
"That will be a process that will take more rather than less
time," Stefan Ermisch said late on Monday.
He said the core bank, which bundles HSH's corporate client
and real estate businesses, could be bought by another lender.
The non-performing loans could go to a private equity buyer, he
HSH's owners - the German states of Schleswig-Holstein and
Hamburg jointly hold 85 percent - have to privatise the bank
under European state-aid rules by the end of February 2018, and
have hired Citigroup to organise the process.
HSH last month invited expressions of interest from
potential buyers, launching the divestment process. Parties have
until 27 February to make their interest known to
(Reporting by Andreas Kroener and Alexander Huebner; Writing by
Maria Sheahan; Editing by Victoria Bryan)