Cerberus working with Goldman on possible sale of French bank CCF
GS•Cerberus is working with Goldman Sachs on a potential sale of its Groupe CCF French banking business, with a formal process expected to start within weeks, two people familiar with the matter said.
1. Potential sale process
Cerberus is working with Goldman Sachs on a potential sale of Groupe CCF, its French banking business. A formal process is expected to start within weeks, two people with knowledge of the matter said.
2. CCF’s business
CCF says it has €31 billion of assets, about two thirds in loans, and net banking income of €806 million. The bank said it does not comment on rumours and remains focused on its commercial momentum.
3. Cerberus’s French operations
Cerberus began building a French banking operation in 2016 with its agreement to buy GE Money Bank France. It agreed to buy HSBC’s French retail bank in 2021; the deal, completed in January 2024, led to My Money Group being renamed Groupe CCF.
