ShippingWatch

Media: Owner close to partial sale of DVB

Sources tell Reuters that the large German bank has entered the final phase of selling off parts of DVB Bank. The plan is to eventually offload the bank's strained shipping portfolio.

Photo: HHM/Michael Lidner

Germany's DZ Bank, the country's second-largest lender, is close to finalizing the sale of DVB assets, which in recent years have been strained by under- and non-performing loans to the shipping industry, writes Reuters based on anonymous sources with close ties to the process.

DZ Bank and DVB have both declined to comment on Reuters' story.

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