UNQUOTE

GERMANY - JC Flowers-led consortium to acquire HSH Nordbank stake

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According to press reports JC Flowers & Co is leading a consortium of investors in the acquisition WestLB's stake in HSH Nordbank. The transaction is valued at EUR 1.25bn.

WestLB currently holds approximately 21.4 % of the capital in the bank, as well as 26.6% of the voting rights. The Free and Hanseatic City of Hamburg holds approximately 35.4%, the state of Schleswig-Holstein about 20% and the Savings Banks & Giro Association for Schleswig Holstein approximately 18%.
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