The sale of the HSH Nordbank in November last year have benefited from external consultants payments in the millions. Legal advisers, Trustees, auditors, and privatization consultants have more than 306 million euros for their work. The answer of the Senate of Hamburg on a request from the FDP.

The Landesbank was sold for a billion Euro to the US investment Fund. About a third of the sale price for the consulting services would have been around the sale of output. “The amount of the consulting fees for the sale of the HSH Nordbank’s all beyond my fears,” said Michael Kruse, Chairman of the FDP citizenship group. This enormous sum demonstrates how little Expertise was in the Senate for a in the private sector, as usual.

Kruse was also the fact that the costs are set to rise to 350 million euros, because the cost of the Bank from the year 2018 will not be taken into account.

Hamburg and Schleswig-Holstein had sold their Landesbank, under pressure from the EU Commission at the end of February 2018 for around a billion euros to a consortium of financial investors Cerberus and J. C. Flowers. Previously, the Institute had to be rescued two Times by the States of Hamburg and Schleswig-Holstein with billions of expense in front of the Bust.


Sam Yoon has many years of experiences in journalism. He has covered such areas as information technology, science, sports and politics. Yoon can be reached at 82-2-6956-6698.