Commerzbank Put Jupiter Up For Sale

The rocky romance that began when Commerzbank wooed, courted and won Jupiter Asset Management looks likely to end in long expected divorce.

Reuters reports that Jupiter is now up for sale at around £600m, £70m less than the 1995 purchase price.

The relationship between Commerzbank and Jupiter was often difficult and reached breaking point with the acrimonious departure of former Jupiter Chairman, John Duffield, in May 2000. Duffield subsequently sued the bank for unfair dismissal and was awarded £5m by the court.

Commerzbank Securities and Goldman are believed to handling the sale.