Saturday , June 19 2021

Cerberus, Centrobridge is made together for NordLB interest: sources

BERLIN (Reuters) – US investors Cerberus and Centerbridge made a joint offer for a minority stake in a German public sector paying a NordLB on Saturday, two people who were familiar with the matter told Reuters.

In a statement, the bank only said it received a joint offer of two non-financial financial investors. He said he would review the offer and discuss further steps with his owners.

NordLB is 65% owned by the German states of Lower Saxony and Saxony-Anhalt with regional savings that support the rest.

NordLB needs to launch its balance of $ 3.5bn ($ 4 billion) to cover written houses on the value of sawmill loans and targeted at the beginning of February.

NordLB's Prime Minister Thomas Buerkle confirmed that the bank was also open to a solution involving public funds and savings.

Centerbridge declined commenting. Cerberus was not immediately available for comment.

Report by Klaus Lauer; Additional reports by Arno Schuetze; Written by Christoph Steitz; Edited by Kirsten Donovan

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