Lower Saxony is planning to expand its NordLB stake

Lower Saxony's state government is considering significantly expanding the state's stake in the Norddeutsche Landesbank (NordLB) with hundreds of millions of euros. A spokesman for the Ministry of Finance confirmed that the country has submitted an offer to Fides Gamma GmbH and Fides Delta GmbH, two trust companies, to buy their shares. According to dpa information, this amounts to around 750 million euros.

However, the German Savings Banks and Giro Association (DSGV), which stands behind the trustees, has not yet agreed to the offer. A DSGV spokesman said they expressly recognized the offer. However, there was “a need for further discussion with the state of Lower Saxony”. They are ready for further discussions with the country.

The Ministry of Finance emphasized that a possible agreement that would have been beneficial for both sides was already negotiated and was on the table. Prime Minister Olaf Lies said that the country respected that the DSGV still wanted to hold further discussions.

“If there is interest, then we will continue to talk about it, of course because we have a great interest in finding a common solution in the end,” said the SPD politician. The offer is still on the table. Lies did not say which points were still open.

When asked, the head of government did not give a deadline for the discussions about the NordLB shares. However, the project must “still be implemented in a legally secure manner in this legislature”. Lower Saxony's state parliament will be re-elected in September 2027. To acquire the shares, a cabinet decision would be required and probably a state parliament resolution for a supplementary budget.

Lower Saxony currently holds 58.11 percent of NordLB, and the two trust companies each hold 11.89 percent. If the deal goes through, the country's stake would increase to more than 80 percent.