{"id":34019,"date":"2023-05-04T10:54:28","date_gmt":"2023-05-04T10:54:28","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/blackstone-mulls-sale-of\/"},"modified":"2023-05-04T10:59:48","modified_gmt":"2023-05-04T10:59:48","slug":"blackstone-mulls-sale-of","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/blackstone-mulls-sale-of\/","title":{"rendered":"Blackstone mulls sale of Dutch bank NIBC \u2013sources"},"content":{"rendered":"<p>By Pablo Mayo Cerqueiro, Amy-Jo Crowley and Andres Gonzalez<\/p>\n<p>LONDON (Reuters) &#8211;     U.S. buyout house Blackstone is weighing options for Dutch merchant bank NIBC, including a possible sale, people familiar with the matter told Reuters.<\/p>\n<p>The fund manager has been informally sounding out other banks and potential financial buyers to gauge their appetite, said the people, who declined to be named discussing private matters.<\/p>\n<p>Deliberations are preliminary and may not lead to any transaction, the people cautioned. Blackstone has also been considering potential acquisitions in the absence of a sale, one person added.<\/p>\n<p>Blackstone declined to comment. NIBC did not immediately respond to a request for comment.<\/p>\n<p>With its roots dating back to the 1940s, NIBC returned to the stock market in 2018 after more than a decade of private equity ownership under JC Flowers &amp; Co.<\/p>\n<p>Blackstone took the bank private again in early 2021 for roughly 1 billion euros &#8211; a fraction of its book value &#8211; after negotiating down the price it originally agreed with the company over concerns about the COVID-19 pandemic.<\/p>\n<p>Valuations for listed European banks have risen since, buoyed by higher interest rates. But a recent crisis of confidence in credit institutions has set back the strategic plans of some midsize lenders, including Apollo Global Management-backed OLB in Germany.<\/p>\n<p>The Hague-based NIBC offers financing for industries such as automotive, commercial real estate, infrastructure and shipping, as well as retail mortgages. It has been exiting non-core businesses, including deal advisory and leveraged finance, in a bid to streamline its operations.<\/p>\n<p>The group had 22.8 billion euros of assets on its balance sheet at the end of last year and an equity value of around 2 billion euros ($2.21 billion), according to its 2022 annual accounts, which showed a profit of 179 million euros excluding non-recurring expenses. Mortgages made up the bulk of its loan book.<\/p>\n<p>The news was first reported by Bloomberg on Thursday.<\/p>\n<p>($1 = 0.9046 euros)<\/p>\n<p \/>\n<p> (Reporting by Pablo Mayo Cerqueiro, Amy-Jo Crowley and Andres Gonzalez in London; editing by Elisa Martinuzzi and Elaine Hardcastle)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/blackstone-mulls-sale-of\/file-photo-signage-is-seen-outside-the-blackstone-group-headquarters-2\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ430EE-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ430EE-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Pablo Mayo Cerqueiro, Amy-Jo Crowley and Andres Gonzalez LONDON (Reuters) &#8211; U.S. buyout house Blackstone is weighing options for Dutch merchant bank NIBC, including a possible sale, people familiar with the matter told Reuters. The fund manager has been informally sounding out other banks and potential financial buyers to gauge their appetite, said the [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":34020,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-34019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ430EE-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=34019"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34019\/revisions"}],"predecessor-version":[{"id":34021,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34019\/revisions\/34021"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/34020"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=34019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=34019"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=34019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}