Bank NordLB in talks for sale of non-performing shipping loans

Germany's NordLB could be on track to offload the last of its non-performing shipping loans, according to Reuters.

Photo: PR/NordLB

Shipping bank NordLB could be nearing a sale of its last non-performing shipping loans.

According to Reuters, the bank is in exclusive talks with private equity fund Cerberus for a sale of the last remaining non-performing shipping loans the bank has in its books. The negotiations also involve a share transaction with NordLB, and for this the bank, in addition to Cerberus, is also talking to Centerbridge, which is interested in acquiring a stake in the bank, reports the news agency.

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