Berlin Hyp has emerged as the first potential bidder for Westdeutsche Immobilienbank (Westimmo) after the Berlin-based bank's chief Jan Bettink told journalists on Monday that he wanted to take a thorough look at the bank to see whether there was a 'strategic fit', according to Financial Times Deutschland.
Berlin Hyp has emerged as the first potential bidder for Westdeutsche Immobilienbank (Westimmo) after the Berlin-based bank's chief Jan Bettink told journalists on Monday that he wanted to take a thorough look at the bank to see whether there was a 'strategic fit', according to Financial Times Deutschland.
A takeover of Westimmo would fit in with Berlin Hyp's goal of expanding both in Germany and abroad. Westimmo's parent bank WestLB is under pressure from the EU competition authorities to sell the bank by April. Potential bidders have been asked to submit indicative bids by 26 February.
Other candidate bidders for Westimmo are rumoured to be NordLB, domestic and foreign banks, and private equity firms.