NordLB backs down on EUR1.3 billion loan sale to KKR


According to a report by Handelsblatt said NordLB has stopped its plans to sell EUR1.3 billion loan portfolio to KKR.

NordLB had said in April it hoped to complete a deal by the end of June.

Neither NordLB nor KKR have commented on the matter.

Also known as Norddeutsche Landesbank, the NordLB is a universal bank in the north of Germany. As the Landesbank of Lower Saxony and Saxony-Anhalt, it supports the public sector in municipal financing and assumes the responsibilities of a central bank for the savings banks in these two states as well as Mecklenburg-Western Pomerania.

KKR is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit strategies and hedge funds.

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