Elliott, Apollo & Cerberus Strive For Cesce

18/06/2014 – Expansion

Investment funds Cerberus, Elliott and Apollo will tilt at a bidding for 50.2% of Compañía Española de Seguros de Crédito a la Exportación (Cesce, translated as Spanish Company For Export Credit) to be put up for sale by the Government soon. The three firms have previously invested in financial businesses like Sareb or savings banks.

In total, around 10 companies showed interest in the state company, among which one may find Spanish Mapfre, Mutua Madrileña or Axesor. The total value of Cesce is estimated at between 300 and 320 million Euros.

 

Original article: Expansión

Translation: AURA REE

72