Cerberus to Sell Large Stakes in Deutsche Bank and Commerzbank
- Buyout firm to sell more than 45 million shares in two banks
- Cerberus has sought to play a role in both banks’ turnarounds
Photographer: Alex Kraus/Bloomberg
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One of the biggest shareholders in German banking giants is scaling back an investment that hasn’t panned out in the last four years.
Cerberus Capital Management is selling shares in Deutsche Bank AG and Commerzbank AG worth about 450 million euros ($509 million), according to terms seen by Bloomberg. The U.S. buyout firm is selling about a third of its holding in Deutsche Bank and a slightly higher amount in its rival.