Over 10 indicative bids for remains of Depfa Bank
THERE have been more than 10 indicative bids for the remains of Dublin-based Depfa Bank, according to reports.
Bidders, mainly private equity firms, will be asked to pitch second-round offers next month, according to newswire Bloomberg.
The Financial Times reported last month that Lone Star Funds, Apollo Global Management, TPG Capital and Bain Capital had expressed an interested in the business.
The collapse of Depfa Bank was the biggest failure in Irish banking history - dwarfing the failure of Anglo Irish. The bank’s ultimate owner was a German company so the German taxpayer picked up the tab although Depfa was based in Dublin and regulated here.
The collapse of Depfa forced the German government to inject money into Munich-based Hypo Real Estate in 2011.
Bloomberg reported that Walter Allwicher, a spokesman for Hypo Real Estate, said the company is evaluating the indicative offers.