Latest news from Heavy Lift & Project Forwarding International Magazine

Nord/LB ties up with DSGV

Nord/LB has rejected a joint offer from two financial investors for a minority stake in the bank, as it focuses on a joint solution with the German Savings Banks Association (DSGV). 

As HLPFI reported here, the bank received the joint offer after launching a formal bidding process in 2018.

Nord/LB said: “After an in-depth assessment of a joint offer by two financial investors submitted as part of a bidding process, the bank and its owners are turning down this option for the moment to focus on a joint solution with the DSGV under public law.”

The proposal will see DSGV “contribute to a solution for strengthening Nord/LB’s capital”. The statement added that the plan would provide a suitable basis for the further development of the bank’s business model. 

Further discussions with DSGV, in coordination with the banking supervisory authority and the EU Commission, will take place in due course to clarify that the measures can implemented as soon as possible, said Nord/LB. 

The bank has also reached a deal with an external investor that will see Nord/LB transfer one of its ship financing portfolios for approximately EUR2.7 billion (USD3.09 billion). The portfolio comprises 263 ships.

According to Nord/LB, this is an important first step in cutting down its non-performing loan (NPL) portfolio, which, as of September 30, 2018, stood at EUR7.3 billion (USD8.35 billion) in total. 

www.nordlb.com

Heavy Lift | News

Talbert names Henderson thumbnail image

Talbert names Henderson

September 13 - USA-based Talbert Manufacturing has appointed David Henderson as dealer development manager.
Views: 291
XLP gathers in Dubai thumbnail image

XLP gathers in Dubai

September 13 - Almost 160 delegates from around the world gathered in Dubai last week for the XLProjects (XLP) annual general meeting (AGM).
Views: 338
ACS adds office space in Spain thumbnail image

ACS adds office space in Spain

September 13 - Air Charter Service (ACS) has relocated its Spanish operation to larger premises in Madrid.
Views: 330
Persson joins Kässbohrer thumbnail image

Persson joins Kässbohrer

September 13 - Kässbohrer has appointed Christian Persson as its key account manager for Sweden, Finland and Norway.
Views: 358

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.