WestLB Makes Preparations for the Sale of Business Areas
WestLB´s owners and the FMSA today confirmed that the focus is now on the Verbundbank and the sale of business areas and that a sale of the Bank as a whole has taken a back seat. The offers received so far confirm the intrinsic value and strong market position of WestLB in all relevant business segments. The sales process is at a correspondingly advanced stage. In the meantime, however, the European Commission clearly expressed its preference for a Verbundbank. For this reason, it is first of all necessary to work out the precise details of the structure of the Verbundbank and the path towards its implementation. The Managing Board and owners express their sincere thanks to sales agent Friedrich Merz for his resolute and professional cooperation.
At the same time the WestLB Managing Board is beginning with the preparations for the sale of business areas, on the basis of promising inquiries for business areas received so far in the course of the sales process. These talks will be continued seamlessly with previously mandated investment bank Morgan Stanley.