Commerzbank is selling off its property loans unit to Lone Star and Wells Fargo Bank. Commerzbank is in deep discussion to negotiation the divestment of the bulk of its Eur5.
Tags: Wells Fargo
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Lone Star and Wells Fargo would divvy up the assets of Commerzbank. Lone Star, the private equity firm, and Wells Fargo are in talks to purchase a GBP4 billion or US$6.
Wells Fargo continues private equity investment activity despite Volcker Rule. Wells Fargo and Co CEO Dick Kovacevich initially had reservations about banks dabbling in private equity investments.
