Market News

Apollo Management Could Grab a Stake in CS Unit

Apollo Global Management (NYSE: APO) could grab a stake in Credit Suisse’s (CS) revamped investment bank CS First Boston, the Wall Street Journal reported on Tuesday.

The beleaguered Swiss bank created CS First Boston last year and this entity advises on mergers and acquisitions and raises capital for clients through both debt and equity markets.

The report did not mention the potential size stake or the deal value.

CS stock has tanked by more than 60% in the past year.

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