EU Said to Agree to HSH Bad Bank Plan in Aid Ruling Next Week

  • Competition chief said to agree to legacy asset transfer
  • Deal would avoid closure of struggling shipping lender

A restructuring of HSH Nordbank AG under state-aid rules is set to be approved by the European Union at the middle of next week, handing a reprieve to the Hamburg shipping lender bailed out after the 2008 financial crisis, according to three people familiar with the matter.

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