Tuesday, July 27, 2021
Latest News from Cambridge and England


Cerberus takes 3 per cent stake in Deutsche Bank

[contf] [contfnew] [hhm]CityAM[hhmc] [contfnewc] [contfnewc] US investor Cerberus has become one of ..

By admin , in Money , at November 15, 2017

US investor Cerberus has become one of the largest shareholders in Deutsche Bank, taking a three per cent stake in the lender, Deutsche Bank said today.

It comes after the private equity investor bought up a stake in Germany's second-largest bank, Commerzbank, in the summer.

Read more: Reports: Deutsche Bank picks senior bookrunners for asset management IPO

In a statement, Cerberus said there were long-term opportunities in the German retail banking sector because of the country's "robust economy, high savings rate, and a number of other factors".

The move by Cerberus is fuelling speculation that Commerzbank and Deutsche Bank could merge. The two lenders talked about a merger briefly last year, but did not go forward with the deal.

The merged firms would hold a 10 per cent share of the German retail banking sector, and the overlaps between the two leaves potential to close branches and cut costs.

Let's block ads! (Why?)

Original Article

Comments


Leave a Reply


Your email address will not be published. Required fields are marked *