Cerberus selling 15M Deutsche Bank shares – Bloomberg

Cerberus Capital Management LP is selling roughly 15 million Deutsche Bank AG shares at an expected price of €14.15 each, Bloomberg News reported.

The number of shares is equivalent to 37% of the U.S. private equity firm's remaining stake in Germany's top bank by assets, according to the Feb. 8 report. The transaction, worth roughly €212 million, will reduce Cerberus' stake to 1.3%, or approximately 26 million shares.

Deutsche Bank's shares closed at €14.37 apiece on Feb. 8, according to S&P Global Market Intelligence data. Their value has grown more than 64% in the last 12 months.