Cerberus Considers Buying Additional Stake in Commerzbank -Handelsblatt

--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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