trending Market Intelligence /marketintelligence/en/news-insights/trending/vm2aqlaqqh5e3fctzs0oxg2 content esgSubNav
In This List

Nord/LB to sell majority of asset management unit to M.M.Warburg

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Nord/LB to sell majority of asset management unit to M.M.Warburg

Norddeutsche Landesbank Girozentrale will sell a majority stake in unit NORD/LB Asset Management AG to M.M.Warburg & CO (AG & Co.) KGaA.

As part of the deal, terms of which were not disclosed in the Feb. 1 statement, NORD/LB Asset Management and M.M.Warburg's Warburg Invest KAG mbH will be brought under a new holding company. M.M.Warburg will take a 75.1% stake in the newly created firm and assume its operational management, while NORD/LB will retain a 24.9% holding.

The holding company will have locations in the German cities of Hamburg and Hanover, as well as assets under management and administration totaling more than €34 billion.

Completion of the deal is subject to approval from competent authorities.