HSH Nordbank nearing a sale

CEO of HSH Nordbank, Stefan Ermisch, tells German media that the bank is close to a solution and that an equity fund would be the right buyer.

Germany's largest shipping bank, state-owned HSH Nordbank, is very close to resolving the bank's future, says CEO Stefan Ermisch, according to Reuters, to Germany's WirtschaftsWoche.

The final deadline for bids on the bank is the end of October. The bank is set to be privatized by February 2018 at the latest, due to requirements from the EU Commission which has approved several capital injections to HSH Nordbank.

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