Frankfurt Setback for the owners of Hamburg Commercial Bank (HCOB): The financial investors Cerberus and JC Flowers have stopped their plans for a billion-dollar sale of the institute for the time being, as several people familiar with the topic told the Handelsblatt. A sale to another bank or an IPO is currently not possible due to the tense economic situation and the turbulence on the stock exchanges.
The former HSH Nordbank was the first and only state bank to be privatized in 2018 and sold to a group of investment companies. According to financial circles, after the restructuring of the institute and the switch to the deposit insurance of private banks, the owners commissioned the investment bank Morgan Stanley to look for possible buyers. At the beginning of 2022, they held initial exploratory talks with other financial institutions.
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