Deals
Apollo’s Black Sees $2.1 Trillion in Europe Bank-Asset Sales
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European banks need to sell 1.5 trillion euros ($2.1 trillion) in assets because of the region’s sovereign-debt crisis, said Leon Black, head of private-equity firm Apollo Global Management LLC.
“There are going to be great sales and they have already started,” Black said today at an investment forum in Sochi, a resort town in southern Russia. He said the sales will happen during the next several years.