Talks between WestLB and HSBC Trinkaus & Burkhardt AG stopped
HSBC Trinkaus & Burkhardt AG today informed the Managing Board of WestLB that HSBC Trinkaus & Burkhardt AG is withdrawing from the bidding process for parts of WestLB's corporates business. The parties involved could not agree on the further procedure in the sales process.
The ongoing discussion on the definition of the Verbundbank and with Helaba will be continued. WestLB may proceed with the realisation of its sales process until 30 June 2012.
Dietrich Voigtländer, Chairman of the Managing Board of WestLB, said: "The Managing Board regrets the withdrawal of HSBC Trinkaus & Burkhardt AG from the bidding process. A promising option for sustainably safeguarding our acknowledged expertise and a significant number of jobs - in particular in Düsseldorf - is therefore now no longer available. This is a bitter disappointment also for the Managing Board. We will proceed with the current sales process, even though the framework conditions for this obviously have not become easier."