European banks set to bid for IKB - sources
FRANKFURT, April 4
FRANKFURT, April 4 (Reuters) - Private equity investor Lone Star is expected to receive bids from some large European banks for its German corporate bank IKB, one of Germany's high-profile victims of the financial crisis, two people familiar with the transaction said.
Banks such as HSBC, BNP Paribas, Societe Generale, Santander, Rabobank and SEB received information packages on IKB in early March and have been asked to return with non-binding offers by a mid-April deadline, the people said.
Some of these banks, which all aim to expand their business with medium-sized German companies - IKB's specialty - are only interested in the corporate lending activities and not the whole bank, they added.
IKB, HSBC, BNP Paribas, Societe Generale, Santander and SEB declined to comment, while Lone Star and Rabobank were not available for comment. (Reporting by Arno Schuetze; Editing by Jonathan Gould)