Sachsen Seeks Buyer Amid Credit Crunch.

The article reports that Leipzig, Germany-based bank Sachsen LB is in negotiation to sell itself to Stuttgart-based Landesbank Baden-Württemberg amidst the bank's financial difficulties. Sachsen operates a number of affiliate companies that have struggled to sell commercial papers, including Ormond Quay Funding PLC. As part of the conditions for the €17 billion line of credit, auditors from Landesbank and Norddeutsche Landesbank Girozentrale have inspected the books of Sachsen and its affiliates in Dublin, Ireland.