Pic© Stan Shebs
HSH Nordbank has been sold for €1bn to JC Flowers and Cerberus. The agreement is accompanied by a sale of predominantly shipping non-performing loans to an acquisition vehicle of Cerberus and JC Flowers, as well as minority owners GoldenTree Asset Management and Centaurus Capital. The sale reflects an investment trend, whereby private equity investors acquire distressed financial institutions rather NPL portfolios.
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