German Tax Scandal Prompts M.M. Warburg Owners to Explore Sale

M.M. Warburg & Co., one of the banks at the center of Germany’s biggest tax scandal, is considering a sale of itself as it seeks to draw a line under the crisis with a new ownership structure, people with knowledge of the matter said.

Shareholders of the Hamburg-based bank are working with advisers at Perella Weinberg Partners to review strategic options, according to the people. They could start gauging interest from potential buyers later this year, the people said, asking not to be identified discussing confidential information.

Deliberations are at an early stage and there’s no certainty they will ...