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EU approves privatization of HSH Nordbank

EU Commissioner for Competition Margrethe Vestager has approved the privatization of German shipping bank HSH Nordbank. German authorities have found a sustainable solution for the bank, she says.

Photo: /ritzau/AP/Virginia Mayo

The EU Commission has now given its thumbs up to the privatization of German HSH Nordbank, which in early 2018 struck an agreement with several new owners regarding a take over of the bank. The bank has endeavored over this last year to close the privatization deal, now approved by the Commission.

EU Commissioner for Competition Margrethe Vestager has concluded that the deal, seen from the Commission's perspective, has taken place in an open, competitive and non-discriminatory process process, in which one other crucial parameter is fulfilled.

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