Sparkassen – Berlin Hyp probably before the sales – economy

The savings banks are apparently considering selling their real estate financier Berlin Hyp AG into the public banking sector. This could be a first step towards a wider consolidation of the red financial group, which the chairman of Sparkasse, Helmut Schleweis, has been promoting for a long time. According to knowledgeable circles, the savings banks, to which Berlin Hyp is wholly owned, have hired the consultant PricewaterhouseCoopers under the aegis of the German Association of Savings Banks and the Giro (DSGV) to survey purchase interest . The price is expected to be at least 500 million euros, he said. LBBW and Helaba have therefore already submitted preliminary bids, while private banks and private equity firms have not been invited to participate in the bidding process. According to reports, only one buyer from the public law camp should be accepted. Firm offers should be available by October.

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