Filter content by area of interest
Ports & Terminals
Port AuthoritiesContainerBulkBreakbulk/General CargoRo-Ro/AutomotiveGTOs
Cargo Handling Equipment
STS CranesYard CranesMobile CHERo-Ro EquipmentBreakbulk EquipmentLow ThroughputBulk Handling Equipment
Shipping & Logistics
Container ShippingBreakbulk/General CargoRo-Ro ShippingDry Bulk ShippingLiquid cargoesLogistics
TOSPlanning & Optimisation TechnologyWiFiMobile ComputingPort Community SystemsAsset Tracking & Monitoring
Automated EquipmentGate AutomationRemote ControlProcess Automation
RailInland WaterwaysShortsea ShippingRoadAir-Cargo
Container Industry
Container manufactureContainer leasingRepair/StorageTradingConversion/Innovation
Operations/TransportContainer leasingEquipmentM&R/Storage
General cargoProject Cargo/Heavy LiftForest productsRo-Ro/AutomotiveAgribulks
Safety & Security
InsuranceHazardous cargoLashings/SecuringLegal/Regulatory
Civil Engineering
Port & terminal construction/designCivil & Consulting EngineersDredging & ReclamationMooring & FenderingLightingPaving & Surfacing
InsuranceLegal/RegulatoryAppointments/PeopleMergers/Acquisitions/RestructuringFinance/Financial ResultsTrade & Professional AssociationsBusiness/Commerce Miscellaneous
 View all Topics View all Topics A-Z
More View all Topics View all Topics A-Z

You are viewing 1 of your 1 guest articles

register  or  login  for full access to online news

Cerebrus set to take over NordLB's ship finance portfolios

The German state of Lower Saxony has begun exclusive negotiations with US financial group Cerberus over a possible takeover of NordLB’s shipping sector debts

Linked InTwitterFacebookeCard

Two portfolios with a book value of €2.5B are for sale - “Tower Bridge” and “Big Ben." If Cerberus were to buy the funds, it would be at a substantially discounted rate, similar to the approach to a debt purchase that would be taken by any commercial factor, so ultimately the state’s taxpayers pick up the bill.


Nord LB says that it is steadily reducing its exposure to "foul" ships’ credits is making progress and it is expected that the total amount of €7.3B in September 2018 will be reduced to less than €5B.


Cerberus recently invested in HSH Bank and is thus considered a natural suitor for Nord LB, which needs around €3.5B in fresh capital just to compensate for the value of debt write-downs. Whether Cerebrus would be prepared to become a minority owner of the state bank is open to question.


Market rumours suggest, instead, that a merger will be sought between Nord LB and Helaba, the state bank of Hesse and Thuringia. "We are talking with all parties, including representatives of state banks,” said Reinhold Hilbers, Lower Saxony’s Minister of Finance and Chairman of the Advisory Board of Nord LB.

Linked InTwitterFacebookeCard

You may also be interested in...

JV boost for Shanghai

Sibre/EMG for ADT

VTG introduces rCE Powerpack

China and Nepal agree transit trade deal

Chinese operators march offshore

Primorsk development plan

Related Stories

Dachser deploys gigaliners in Czech Republic

In the Czech Republic, Dachser recently started circulating two 25.25m long giga...

Utilisation up for APM Terminals

Total utilisation across the group’s portfolio of terminals improved 9% to...

Sales up for Sany

Sany Group reports a 38.6% increase in revenue for the six month period ending 3...

Trams for urban freight

In Germany, the confessional trade union association (CGB - Christlicher Gewerks...
Linked In