FRANKFURT (AFX) - Commerzbank AG and Deutsche Postbank AG are expected by the end of this month to complete due diligence on BHW Holding AG, sources within the financial industry said.
Postbank -- which is majority-owned by Deutsche Post World Net AG -- currently holds 9.2 pct of the shares in BHW.
Commerzbank said in July it had found a financial investor who would likely participate in a joint bid for BHW.
BHW specialises in savings contracts for housebuilders, life insurance, investment funds and mortgages, and has a market value of 2.7 bln eur.
It is 39 pct-owned by the trade union group Gewerkschaftsholding BGAG and 37 pct by the German civil servants' association Deutsche Beamtenwirtschaftsbund.
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The copying, republication or redistribution of AFX News content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Postbank -- which is majority-owned by Deutsche Post World Net AG -- currently holds 9.2 pct of the shares in BHW.
Commerzbank said in July it had found a financial investor who would likely participate in a joint bid for BHW.
BHW specialises in savings contracts for housebuilders, life insurance, investment funds and mortgages, and has a market value of 2.7 bln eur.
It is 39 pct-owned by the trade union group Gewerkschaftsholding BGAG and 37 pct by the German civil servants' association Deutsche Beamtenwirtschaftsbund.
zb/ms/vs
COPYRIGHT
Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and the AFX Financial News logo are registered trademarks of AFX News Limited
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2005 AFX News
