Cerberus, JC Flowers offer to buy HSH Nordbank AG

Cerberus Capital Management LP and J.C. Flowers & Co LLC have made a joint 700 million euro ($850 million) bid for HSH Nordbank AG, Bloomberg reported. Apollo Global Management is also vying for lender, the story said. To comply with conditions set by the EU that approved the 2009 bailout of the bank, HSH Nordbank must be privatized by next month or wound down, Bloomberg said.