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NIBC advises J.C. Flowers on the acquisition of HSH Nordbank

Corporate News -

NIBC is proud to announce to have advised J.C. Flowers (“JCF”) in its acquisition of HSH Nordbank (“HSH”) from the German states of Hamburg and Schleswig-Holstein who owned the bank since the financial crisis. A consortium led by JCF and Cerberus Capital Management will acquire HSH for a cash consideration of EUR 1bn and relieve the bank of its non-performing loans which will be placed in a special purpose vehicle.

Transaction Highlights

The transaction marks the end of a high profile privatisation process required by the European Commission following state aid received by HSH during the financial crisis. It will open a new chapter for HSH as a viable bank for (northern) Germany under private ownership without the restrictions it experienced under state ownership. For our client JCF this is a landmark transaction following years of focus on the German financial institutions landscape. The transaction is expected to close during Q3/Q4 2018 following regulatory approvals.

NIBC has supported JCF on a number of buyout opportunities in Germany over the past years, and has advised JCF on many strategic discussions regarding HSH ever since JCF’s first investment in the bank in 2006.

This transaction is testament for the strength and caliber of NIBC Corporate Finance and the result of years of client focus and commitment. It evidences our ability to enable decisive moments for our clients and demonstrates our core values of being entrepreneurial, professional and inventive.

For more information, please contact Ernst Berger or Thom Rasser (see contact details on this web page).

Profile of NIBC

NIBC is the bank of choice for decisive moments. Our corporate client business offers a combination of corporate finance and capital markets, financing and investing in the sectors Food, Agriculture, Retail & Health, Industries & Manufacturing, Infrastructure & Renewables, Commercial Real Estate, Offshore Energy, Shipping & Intermodal and Telecom, Media, Technology & Services. Our retail client offering provides residential mortgages in the Netherlands and online retail saving deposits in the Netherlands, Belgium and Germany via NIBC Direct. Headquartered in The Hague, NIBC also has offices in Frankfurt, Amsterdam, London and Brussels.

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