Cerberus and Goldman prepare CCF sale
Cerberus Capital Management is reportedly working with Goldman Sachs to explore the sale of French banking business Groupe CCF. A formal sale process is expected to begin within weeks despite ongoing concerns over French government debt.
Cerberus Capital Management is working with GOLDMAN SACHS GROUP INC on a sale of its Groupe CCF French banking business, people with knowledge of the matter said during late evening. The formal process is expected to begin within weeks. The move comes as 10-year bond yields in France hit their highest level since the early 2000s amid political concerns.
CCF declined to comment on the talks, stating it remains focused on commercial momentum. Representatives for Cerberus and Goldman Sachs also declined to comment.
