FRANKFURT, Aug 25: Stricken German state lender SachsenLB is expected to be sold this weekend to another German state bank, Horst Metz, the finance minister of Saxony, said on Saturday.

We are in talks with the Landesbanks. We agree that the talks will continue and that they will be brought to a successful conclusion. We assume that we will find a good solution this weekend, he told reporters after a special cabinet meeting.

Metz also said that Stuttgart-based LBBW, Germany’s biggest Landesbank and already tipped as a favourite, was among the parties in the talks. A source close to the company said the owners of LBBW would meet on Sunday. The eastern state of Saxony and local community savings banks own SachsenLB, the second German casualty after the subprime mortgage crisis.—Reuters