The US banking regulator is seeking bids for the sale of collapsed Silicon Valley Bank's German assets
The U.S. Federal Deposit Insurance Corporation is inviting bids for SVB's $460 million asset portfolio, including loans and leases, in Frankfurt and Berlin. The deadline for submission is July 19, according to the announcement.
The regulator said it will open the German branch's data room to eligible bidders on June 20, adding that participants must hold lending authorization in Germany. This comes in the wake of reports last week from local German media, which said that SVB's German branch was in search of a potential buyer.by German financial regulator BaFin to conduct its lending business through its SVB Germany branch., which acquired the UK arm of SVB, has been floated as a potential buyer, according to media reports.
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