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German State Bank Stake in Private Bank for Sale

19 April 2007

Media reports in Germany suggest that German state bank Bayern LB is planning to sell its stake in private bank Hauck & Aufhaeuser, with potential buyers for the holding including executives at the private bank. Bayern LB, which holds 10 per cent of Hauck & Aufhaeuser’s ordinary shares and another 15 per cent in preferred shares, declined to comment.