US private equity firm
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
A group of investors led by JC Flowers is offering to acquire a 24.9 percent stake in
Seven trusts advised by JC Flowers already hold 26.61 percent in
Snow stressed, however, that Cerberus prefers to take full control of a company.