February 6, 2019 / 3:19 PM / 6 months ago

NordLB weighs spinning off Deutsche Hypo real estate finance unit

BERLIN (Reuters) - Germany’s NordLB is weighing spinning off Deutsche Hypo, its real estate financing unit, as part of its restructuring, people familiar with the matter told Reuters on Wednesday.

“That is one of the options,” one person said.

NordLB and shareholder Lower Saxony declined to comment.

Over the weekend, NordLB’s owners decided to go ahead with a plan to recapitalise the ailing German public sector bank with money from two regional states as well as from a group of savings banks.

Reporting by Klaus Lauer; Writing by Tom Sims; Editing by Michelle Martin

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