DGAP-News: hsh portfoliomanagement AöR / Key word(s): Disposal
Sale of a portfolio of shipping loans
Notice inviting expressions of interest
hsh portfoliomanagement AöR, an independent public-law institution (Anstalt des öffentlichen Rechts), which has been established by the Federal States of Hamburg and Schleswig-Holstein, intends to sell a sizeable portfolio with a volume of significantly more than USD 1 bn of in general performing shipping loans backed by a high degree of long-term charter contracts.
hsh portfoliomanagement AöR was attributed with the task of a profit-oriented wind-down of a shipping loan portfolio taken over from the former HSH Nordbank AG. hsh portfoliomanagement AöR now aims to sell the entire remaining portfolio.
Interested parties are requested to get in touch with the below contact with their expression of interest. In the expression of interest, it should be demonstrated that they have sufficient financial resources to acquire the portfolio, a relevant track record in the acquisition of sizeable loan portfolios, as the case may be by the involvement of professional advisors, and the ability to execute the planned transaction within a tight timeframe. They should also outline their investment strategy, and their interest in the transaction (e.g. hold or exit strategy etc.).
The seller reserves the right to make a decision as to which investors may be considered in the further sales process based on the information provided in the expressions of interest.
Expressions of interest must be submitted in German or English. In addition to the above requested information, they must contain the interested party's name and address, a brief company description and the names of the responsible individuals to be contacted with questions. Expressions of interest on behalf of a third party (including agents and advisors) will be considered only if a proper power of representation is submitted in writing.
Deloitte GmbH Wirtschaftsprüfungsgesellschaft and its sub-contractor Akinn Group Ltd. are acting as exclusive Financial Advisor to the Seller in connection with this sales process. The expressions of interest in participating in the sales process can be submitted by email and must be received by the contact person stated below by no later than 12:00 p.m. (CET) on 9 November 2021.
Interested investors who are to be considered in the further sales process will be invited on short notice to submit an indicative offer based on further information. Prior to this, they will be required to sign a confidentiality agreement.
30.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.