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Report: Apollo, Commerzbank show interest in Oldenburgische Landesbank

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Report: Apollo, Commerzbank show interest in Oldenburgische Landesbank

is examiningvarious strategic alternatives for unit Oldenburgische Landesbank AG, including a partial ortotal sale of the regional private bank, Reuters reported Sept. 27.

and U.S. privateequity firm Apollo GlobalManagement LLC submitted nonbinding offers for the bank, sourcestold the newswire.

Allianz,which holds about a 90% stake in the bank, is in discussions with interestedparties, the lender reportedly said, with a spokesman for the insurer sayingthe matter is "at an early phase of consideration."

OldenburgischeLandesbank had total assets of €13.90 billion as of June 30, according to SNLFinancial data.