Cerberus Stalks German Financial Sector

US private equity firm Cerberus is interested in making acquisitions in the German financial sector and expects good takeover opportunities in the aftermath of the global credit crisis, chairman John Snow has said.

The former US Treasury Secretary said Cerberus has a lot of expertise in restructuring companies in financial difficulties and that this also applies to the banking sector.

“We have more dry ammunition than ever before,” Snow told Frankfurter Allgemeine Zeitung, pointing out that Cerberus has sufficient capital for further acquisitions despite the financial crisis.

Other investment firms such as TPG and JC Flowers also signalled an interest in the German financial sector recently.

A group of investors led by JC Flowers is offering to acquire a 24.9 percent stake in Hypo Real Estate Holdings AG.

Seven trusts advised by JC Flowers already hold 26.61 percent in HSH Nordbank.

Snow stressed, however, that Cerberus prefers to take full control of a company.

Source: Thomson Merger News