Banks: Aareal Bank considers buying Hamburg Commercial Bank
Aareal Bank is exploring a takeover of Hamburg Commercial Bank, according to insiders. A deal could be reached this year, but a conclusion is not yet certain.
Aareal Bank is reportedly in talks to acquire Hamburg Commercial Bank (HCOB), with HCOB's investors, including Cerberus Capital Management, working with advisors on a potential sale. Discussions between the two banks are underway, and a deal could be reached this year. HCOB's investors are seeking a valuation above its €3.3 billion tangible equity, and are considering a sale or initial public offering of Aareal Bank, which is owned by Advent and Centerbridge Partners. Representatives of the banks and investors declined to comment.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
