Subscribe to RSS feedState bail-out is planned for troubled HSH Nordbank
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Obsidian
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last modified
Mar 05, 2009 12:00 AM
The German state governments of Hamburg and Schleswig-Holstein have agreed to a restructuring plan for HSH Nordbank, the world's largest shipping bank.
Both states hold stakes in the bank, as do US investors JC Flowers and regional savings banks.
Crisis-ridden HSH Nordbank sought E3bn (US$3.8bn) from Hamburg and Schleswig-Holstein as well as fresh guarantees of E10bn.
HSH needs the money...
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