Banks: Helaba plans IKB takeover bid for more than 600 million euros
Germany's Landesbank Hessen-Thüringen is preparing a binding offer of more than 600 million euros for IKB Deutsche Industriebank, according to insiders. A final decision has yet to be made.
Landesbank Hessen-Thüringen, or Helaba, is preparing a binding offer of over 600 million euros for IKB Deutsche Industriebank, according to people familiar with the matter. The Helaba board met on Tuesday and final offers are due early next week, although a decision has not been made and approval is likely needed from the state of Hessen and regional savings banks.
The offer values IKB at more than 0.6 times its book value. Crédit Agricole is also reportedly considering a bid for IKB, which is currently owned by Lone Star, having been rescued two decades ago and acquired by Lone Star in 2008.
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.
Also reported by 1 other outlet
- Banks: Helaba apparently plans to make a takeover offer for IKB handelsblatt.com
