Bayerische Landesbank

Bayerische Landesbank News

• Ecclestone Bribery Case Seen Disrupting CVC Plan for Sale of F1

  CVC Capital Partners Ltd.’s plan to hold an initial public offering of Formula One may be hurt by a bribery investigation involving the auto-racing series’ boss Bernie Ecclestone.

• Ex-BayernLB Manager Denies Getting Ecclestone Suit Papers

  Former Bayerische Landesbank Chief Risk Officer Gerhard Gribkowsky said he didn’t receive a summons in a New York lawsuit against Formula One Chief Executive Officer Bernie Ecclestone over sale of an F1 stake.

• Ex-BayernLB Manager Drops Appeal of Formula One Bribery Case

  Former Bayerische Landesbank Chief Risk Officer Gerhard Gribkowsky and Munich prosecutors dropped appeals against his conviction for bribery, Germany’s top criminal court said.

• Magyar Telekom Falls to Record on Profit Miss: Budapest Mover

  Magyar Telekom Nyrt., the Hungarian unit of Deutsche Telekom AG, dropped to the lowest level on record after first-quarter profit missed analyst estimates.

• Hungary Central Bank and Lenders Reach Deal on Funding

  Hungary’s central bank has agreed with commercial lenders to increase the margin allowed on loans funded by its zero-interest lending plan, designed to end a recession, Magyar Nemzeti Bank President Gyorgy Matolcsy said.

• Landesbank Berlin Quits Euribor in Bank Exodus From Benchmarks

  Landesbank Berlin AG, a German regional lender, became the sixth bank this year to stop contributing to the panel setting Euribor, adding to an exodus that includes UBS AG and Rabobank Groep.

• WTI Crude Trades Near Four-Month Low Before Supply Data

  West Texas Intermediate fell for the fourth time in five days, trading near the lowest level in almost four months before government data forecast to show U.S. crude inventories rose last week.

• Eight German Thin-Film Solar Plants Get $200 Million Financing

  Eight thin-film solar plants using First Solar Inc. modules built at a former Soviet military airport in Germany received more than 150 million euros ($200 million) in bank financing, law firm Norton Rose LLP said.

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  Landesbank’s Ratings Cut by Moody’s on Lower Likelihood of Government Aid

  Ten German government-owned banks had their senior debt and deposit ratings cut by Moody’s Investors Service because it said “there is now a lower likelihood” that the lenders would get external support.

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  Patrizia Buys GBW in Deal Valuing Company at $3.3 Billion

  Patrizia Immobilien AG agreed to buy Bayerische Landesbank’s GBW AG unit in a transaction that values the residential landlord at 2.5 billion euros ($3.3 billion) including debt. The deal would be the largest in Germany’s property market in five years.

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