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Goldman Sachs, SocGen make final offers for Commerzbank unit

Goldman Sachs Group Inc. and Société Générale SA made final offers for Commerzbank AG's equity markets and commodities unit, Bloomberg News reported Feb. 28, citing "people familiar with the situation."

The German lender expects to choose the final buyer in March, the people said, adding that Barclays Plc has dropped out of the running. Commerzbank CFO Stephan Engels has said he wants to complete the deal in 2018, the newswire noted.

The bank had canceled plans for a potential IPO of the unit in light of its small size, and has recently been working to separate the business from the rest of its operations as it concentrates on retail and corporate lending.