Home News German Bank promotes sale of BHF Bank – Circles

German Bank promotes sale of BHF Bank – Circles

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DB-Zentrale Frankfurt (c) Deutsche Bank FRANKFURT (Dow Jones) – German bank drives the sale of BHF Bank actively promote that they had taken together with the private bank Sal Oppenheim. "In the coming week will be an information memo sent to about a handful of potential bidders," said two person familiar with the matter according to Dow Jones Newswires. (Photo: Dt. Bank)

Another person confirmed this information and estimated the expected purchase price to significantly less than EUR 600 million, the current book value of BHF Bank. As a prime candidate for the purchase applies to BNP Paribas SA, the person said. The French bank did not comment on it on Friday. Definite interest in the BHF Bank has meanwhile, LGT Bank, as it was called from the environment of the Liechtenstein private bank. BHF Bank was purchased in 2004 from the private bank Sal Oppenheim. Speculations Sal Oppenheim had in the financial crisis to the brink of the abyss brought, whereupon the traditional Cologne building itself has been swallowed up at the start of the Deutsche Bank for 1.3 billion EUR. The Frankfurt DAX-group, however, made clear early on that he would sell the BHF Bank in an offer.
The recently launched to attempt to sell the BHF Bank to be sold as a whole, as one of the informants said. give a firm timetable for the sales it does not, however. The sale should proceed as quickly as possible while on the stage. "Continued the German bank could retain the BHF but also, if received no reasonable offers," said the person.
For more information about potential takeover candidates belong in the newspaper "Handelsblatt" (Friday Edition) and the Swiss Bank Sarasin, the Spanish Santander group and the Svenska Handelsbanken of Sweden.
Bank Sarasin denied their alleged interest in the afternoon, however, officially. "We will continue to focus on private banking," said Sarasin spokesman Benedikt Gratzl. The business model of BHF Bank Sarasin would not really fit, so that "we are the result of a takeover not interested".

Web sites: www.bhf-bank.com
www.deutsche-bank.de
By Henning-Eyk, Dow Jones Newswires;
+49 (0) 69-29725 108, eyk.henning @ dowjones.com
(Ulrike time in Hamburg, Katharina Bart in Zurich and Jethro Mullen in Paris
contributed to this report.)

DJG / EYH / cbr / voi