State Bank: Sale falls through - savings banks want to keep their shares in NordLB for now
The institutes had rescued the Landesbank in 2019 together with the state of Lower Saxony. However, before selling their stake, they see a need for further discussions.
The German Savings Banks and Giro Association (DSGV) has decided not to accept an offer from the state of Lower Saxony to buy its nearly 24 percent stake in NordLB. The DSGV wants to continue supporting the bank's recovery, citing a positive development since 2019. Lower Saxony, which already owns 58 percent of NordLB, had offered to buy the stakes for around 760 million euros. The DSGV is open to further talks with Lower Saxony.
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.
