Cerberus Considers Buying Additional Stake in Commerzbank -Handelsblatt
September 17 2021 - 4:13AM
Dow Jones News
--Cerberus Capital Management LP is considering buying an
additional stake in Germany's second-largest lender, Commerzbank
AG, Handelsblatt reports, citing unnamed sources.
--The New York investment firm, which already holds a stake of
around 5% in the Frankfurt-based bank, is weighing the acquisition
of the 15.6% stake the German state owns after the coming federal
election, especially if Christian Lindner, leader of the
free-market FDP, becomes the new finance minister in a coalition
government, Handelsblatt says.
--The German state bailed out the bank in the wake of the 2008
financial crisis. Bought for five billion euros ($5.9 billion at
current rates), the government's shareholding is now valued at
around EUR1 billion, Handelsblatt says.
--Commerzbank shares are up 4.1% in Friday morning trade.
Full story in German: https://bit.ly/39dzOfh
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
September 17, 2021 03:58 ET (07:58 GMT)
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