PE-backed bid for BHF is on the cards

Bankhause Lampe and LGT could end up in a bidding war for Frankfurt-based BHF, which is being sold by Deutsche Bank. Deutsche inherited BHF as part of its 1 billion euro ($1.39 billion) takeover of Sal Oppenheim. According to reports, LGT may join forces with private equity firm Apollo. BHP is expected to go for around $300 million, half of its $650 million value, because of the amount of restructuring needed.

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