Русская версияUS private equity group Lone Star plans to buy German bank IKB,
which was one of the country's major casualties in the US subprime
mortgage crisis.
Germany's state development bank KfW, the
government and private investors rescued the Düsseldorf-based bank
from bankruptcy, pumping billions into IKB, which specialises in
loans to small- and medium-sized business. KfW sold its 91 percent
stake in IKB for an undisclosed sum, believed to be around 300
million euros. Two state-owned German banks, BayernLB and WestLB,
were also interested but withdrew from the bidding. The sale is
subject approval from KfW's, the German financial supervisory
authority and the European Commission.
(Deutsche Welle)
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