Cerberus buys into German bank giants

Shares in Deutsche Bank and Commerzbank surged after it emerged that private-equity firm Cerberus is a top shareholder at Germany’s two biggest banks, Steven Arons, Sarah Syed and Aaron Kirchfeld report.

Shares in Deutsche Bank and Commerzbank surged after it emerged that private-equity firm Cerberus is a top shareholder at Germany’s two biggest banks, Steven Arons, Sarah Syed and Aaron Kirchfeld report.

Cerberus, controlled by US billionaire Stephen Feinberg, declined to comment on why the New York-based private equity firm acquired about 3% of Deutsche Bank, after disclosing a 5% in Commerzbank in July.