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FRANKFURT, Nov 27 (Reuters) – Commerzbank withdrew its bid for a stake in the troubled NordLB German public bank because of potential growth and synergies that were deemed unsatisfactory, the daily Handelsblatt reported on Tuesday.
Reuters reported this month that the final proposals should be forwarded late November, Commerzbank made a non-binding offer in October.
The successful candidates also include the Helaba public bank and private equity firms, including Cerberus, Apollo and Advent.
According to Handelsblatt, quoting sources close to the case, binding offers must be submitted Wednesday.
Commerzbank, the second largest listed bank in Germany, and NordLB did not wish to speak.
NordLB and its shareholders, including the Land of Lower Saxony and regional savings banks, want to restructure the institution without infringing EU state aid rules.
NOTE: The Handelsblatt information has not been verified by Reuters, which does not guarantee its accuracy. (Ludwig Burger, Andreas Framke and Klaus Lauer Claude Chendjou for French Service, edited by Catherine Mallebay-Vacqueur)
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