November 28, 2018 / 9:20 AM / 16 days ago

NordLB says will evaluate bids from external investors

FRANKFURT, Nov 28 (Reuters) - German public sector bank NordLB said on Wednesday it would evaluate bids from external investors jointly with owners and decide on further steps as soon as possible.

“The talks on strengthening our capital ratios are now entering a very intense phase,” NordLB said after posting a drop in nine-month earnings and warning that it would post a loss in the full year 2018.

Final offers for a stake in the bank were due on Wednesday. Shortlisted bidders included public sector bank Helaba, Commerzbank, and private equity investors including Cerberus, Apollo and Advent.

However, Commerzbank walked away from bidding for a stake in NordLB because the suitor was not satisfied with the growth and synergy potential from a deal, a person close to the matter said.

Helaba’s owners also could not decide on a final offer for a stake in the bank, another person had said earlier this week, while another person had said that this did not mean that Helaba had put its pens down on the subject. (Reporting by Arno Schuetze Editing by Michelle Martin)

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