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HSH Nordbank Is Said to Attract Bids From HNA Group, Apollo

  • More than five suitors place indicative bids for German lender
  • Offers mean bank may be able to avoid being wound down
Updated on

China’s HNA Group and Apollo Global Management LLC are among at least five potential suitors that have placed preliminary bids for Germany’s HSH Nordbank AG, fueling hopes the state-owned bank can be sold instead of wound down, said people familiar with the matter.

State officials and regulators will review the potential buyers and their offers over the next few weeks, said the people, who asked not to be identified because the talks are private. The bank’s owners -- the German states of Hamburg and Schleswig-Holstein -- are “very pleased” with the bids that have come in so far, according to a joint statement on Sunday.