24.02.2009
The Governments of the two German federal states have agreed to provide financial assistance to 13 billion euros to rescue the bank HSH Nordbank, said publication of The Financial Times.
In addition to 13 billion through the bank authorities of Schleswig-Holst and cities Namburg having the status of federal lands, HSH Nordbank will provide guarantees for the 10 billion euro on account of possible future losses.
A deal was announced after the German financial regulator has threatened to close the bank until such time as he will be able to attract capital needed for the operation.
Governments of the two lands 60% stake owned by HSH. A further 26% owned by U.S. company JC Flowers. Others are in free float. Losses in the bank 2.8 billion in 2008 raised fears about the impact on the financial state of Schleswig-Holst, which some experts even acknowledged its "quasi-bankruptcy."
No comments:
Post a Comment