The Free and Hanseatic City of Hamburg, the State of Schleswig-Holstein and the Savings Banks Association for Schleswig-Holstein, which together hold a stake of 73.14 percent in HSH Nordbank AG, today announced jointly that they are not interested in selling their equity stake to WestLB.
In the interests of a long-term investment in HSH Nordbank, the three stockholders signed an agreement back in March 2003 to retain a majority stake in HSH Nordbank (at least 50.1 percent) at least through the end of 2013. This so-called "holding agreement" applies,
and the contracting parties feel committed to it in the long term. The Free and Hanseatic City of Hamburg, the State of Schleswig-Holstein and the Savings Banks Association for Schleswig-Holstein have stressed their satisfaction with the Bank's performance.
Source: HSH Nordbank
