HSH Nordbank, the troubled German bank that was bailed out by the city state of Hamburg and the state of Schleswig-Holstein earlier this year, is putting its real estate unit, HSH Real Estate, up for sale, newspaper Financial Times Deutschland has reported. According to the paper, the company. which has 130 employees, could also be partially sold.
HSH Nordbank, the troubled German bank that was bailed out by the city state of Hamburg and the state of Schleswig-Holstein earlier this year, is putting its real estate unit, HSH Real Estate, up for sale, newspaper Financial Times Deutschland has reported. According to the paper, the company. which has 130 employees, could also be partially sold.
In February the bank was thrown a EUR 3 bn lifeline from the governments of the German states of Hamburg and Schleswig-Holstein. The states - which own 60% of HSH Nordbank - are also providing a further EUR 10 bn in guarantees.
