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    DGAP-News  713  0 Kommentare Sale of HSH Beteiligungs Management GmbH's participation in HSH Nordbank AG





    DGAP-News: HSH Beteiligungs Management GmbH / Key word(s): Offer/Tender Offer


    Sale of HSH Beteiligungs Management GmbH's participation in HSH Nordbank AG (news with additional features)


    23.01.2017 / 06:00



    The issuer is solely responsible for the content of this announcement.



    Sale of HSH Beteiligungs Management GmbH's participation in HSH Nordbank AG


    Notice inviting expressions of interest


    HSH Beteiligungs Management GmbH ("the Seller"), which is (in-)directly >90% owned by the Federal States of Hamburg and Schleswig-Holstein (together "the Länder"), intends to sell up to 94.9% (which under certain circumstances may be increased to 100%) of the shares in HSH Nordbank AG ("HSH Nordbank") for a cash consideration in an open, transparent, competitive and non-discriminatory bidding process, in accordance with the European Commission's state aid decision of 2 May 2016 (OJ L 319, 25.11.2016, p. 13).


    HSH Nordbank is a leading commercial bank and a competent partner for medium-sized corporate customers in the Northern-German region and in German metropolitan areas with dedicated product know-how and long-standing expertise. It is also a leading commercial real estate lender in Germany and enjoys an established, recognized position as financing specialist for the global maritime industry. Beyond traditional loans, HSH Nordbank provides industry-specific as well as complementary markets and transaction banking products.


    HSH Nordbank has two head offices in Hamburg and Kiel and is incorporated under German law. It currently has eight branches in Germany and selected foreign representative offices in New York, Luxembourg, Athens, Hong Kong and Singapore. As of 30 September 2016, it employed 2,226 employees (full-time).


    HSH Nordbank has been significantly de-risked and restructured over the last years. As a result, HSH Nordbank's profitability has continuously improved. For the first nine months of 2016, HSH Nordbank posted a pre-tax profit of EUR183mn (IFRS), equivalent to a RoAE (pre-tax) of 7.2%.


    HSH Nordbank's portfolio in the Core Bank segment amounts to EUR50.7bn EaD (as of 30 September 2016) and is diversified geographically and across different product and client clusters. Besides its strategic lending portfolio in the Core Bank, HSH Nordbank has set-up a non-strategic portfolio (segment Non-Core Bank) in 2008, which has been actively managed down from EUR110bn EaD to EUR22.3bn EaD (as of 30 September 2016).

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    DGAP-News Sale of HSH Beteiligungs Management GmbH's participation in HSH Nordbank AG DGAP-News: HSH Beteiligungs Management GmbH / Key word(s): Offer/Tender Offer Sale of HSH Beteiligungs Management GmbH's participation in HSH Nordbank AG (news with additional features) 23.01.2017 / 06:00 The issuer is solely responsible for the …

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