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Equity firm to take over NordLB's bad shipping loans totaling billions

According to sources Reuters has spoken to, private equity company Cerberus is in exclusive talks with German bank NordLB to take over poor shipping loans worth USD 2.8 billion.
Photo: PR/NordLB
Photo: PR/NordLB
by KATRINE GRØNVALD RAUN

NordLB may be close to selling off non-performing shipping loans worth roughly USD 2.8 billion, sources close to the process tell Reuters.

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