EMEA News
DVB Sale Attracts Chinese Interest
Ship finance house DVB, which has been put for sale, has attracted the interest of China's financial institutions.
Bank of China and Industrial and Commercial Bank of China are both looking at the German ship financier, according to Reuters.
DVB's parent bank, DZ Bank, put the wheels in motion to sell off DVB at the end of last year and the two Chinese lenders are thought to be preparing bids.
Approached for comment, neither the German or Chinese banks declined to do so.
DVB originally was linked to the German railways but in the early noughties set its focus firmly on transport finance with shipping accounting for nearly half of its book. It is also active in aviation.
Along with other established ship finance names, the bank's fortunes suffered in the aftermath of the 2008 financial crash and shipping downturn.
