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Commerzbank to sell hedge fund unit

Commerzbank has put Comas, its $900m fund of hedge fund manager, up for sale just months after it gave its main asset management unit to Allianz, the insurer, as part-payment for its takeover of Dresdner Bank. The German bank is already in talks with several groups about selling the unit, which is likely to fetch a price tag in the tens of millions of euros. Separately, the FT reports UK-based Dresdner Kleinwort bankers will sue Commerzbank, which took over Dresdner late last year, over unpaid bonuses.  See more background here at FT Alphaville.

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