ShippingWatch

NordLB receives bids from two investors

Two investors have issued a bid on an ownership share in German NordLB. The bank launched a tender process in the autumn of 2018 to clear up its shipping loans.

Photo: PR/NordLB

German bank NordlB has received a bid from two investors, reveals the bank in a press release.

The bid pertains minority share, and the money is to be used to refinance the bank, which requires USD 530 million to cover impairments on bad loans to the shipping industry.

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