PARIS (Reuters) - German bank WestLB (WDLGgb.F: Quote, Profile, Research) said on Monday it was considering selling its French banking arm Banque d'Orsay and had hired investment bank Rothschild & Cie to advise it on the possible transaction.
"With the arrival of a new president, West LB has begun a strategic review of its assets, and has given a mandate for a possible sale of Banque d'Orsay," said a West LB spokesman.
The spokesman was confirming an earlier report in French newspaper Le Figaro.
The spokesman added, however, that there was no certainty that a sale would definitely go ahead.
Banque d'Orsay saw its funds under management slump to 7.8 billion euros in 2007 from 16 billion a year earlier.
Its 2007 core net profit fell to 25.4 million euros ($39.25 million) from 37.6 million a year earlier. The bank employs around 120 staff.
(Reporting by Pascale Denis; Editing by Greg Mahlich)
