Cerberus Capital Management and Centerbridge Partners have made a joint bid to take a major stake in restructuring German lender Nord/LB.
This is according to financial sources cited by news agencies like Bloomberg and Reuters.
The bank said only that a joint bid from two potential investors had been lodged.
The two funds would buy 49.8% of the core assets of the state-owned lender and would pump in more than $1bn.
