Cerberus eyes German banking assets

摘要

Cerberus could hold the key to unlocking the possible merger of DEUTSCHE BANK and COMMERZBANK. If the transaction between the two lenders proceeds, the combined bank may have to raise up to €10bn of capital, if it is prevented from realising badwill on its inflated balance sheet. A badwill gain is the opposite of goodwill in that it is a recognition that the target is acquired for less than its true value.