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Fosun considers selling stake in German BHF Bank to Oddo
January 26, 2016 / 3:19 PM / 2 years ago

Fosun considers selling stake in German BHF Bank to Oddo

FRANKFURT, Jan 26 (Reuters) - Chinese investor Fosun may sell its 28.6 percent stake in Anglo-German lender BHF Kleinwort Benson to French private bank Oddo & Cie after declaring defeat in its own pursuit of the bank last year.

By accepting Oddo’s offer for the stake, Fosun would receive 217 million euros ($235 million) and make a 29 million euro profit, the investor said on Tuesday.

Oddo launched a 760 million euro counter bid for BHF in November, challenging Fosun’s earlier offer. Fosun then withdrew its bid in December.

Fosun had seen buying BHF as an important step in establishing a financial platform in Germany and beyond, but it refrained from topping Oddo’s counterbid. ($1 = 0.9231 euros) (Reporting by Arno Schuetze; editing by David Clarke; editing by David Clarke)

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