May 4, 2018 / 10:07 AM / a year ago

Germany's DZ Bank to sell parts of DVB after muted interest for unit - sources

LONDON/FRANKFURT, May 4 (Reuters) - Germany’s No.2 lender DZ Bank is opting to sell specific assets of troubled ship and aircraft financing division DVB after receiving muted interest from suitors for the whole business, four sources familiar with the matter say.

The sources, who declined to be identified due to sensitivity, said DZ Bank was now looking at selling specific portfolios starting with aviation and land transportation finance.

One source said the first round of bids for the aviation and land transportation portfolios are expected later in May, with final bids due in July. The source said sale of the shipping and offshore segments would be launched in the autumn.

DZ and DVB both declined to comment when contacted. (Reporting by Jonathan Saul and Arno Schuetze; Editing by Adrian Croft)

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