LONDON: The collapse of merger talks between Fiat Chrysler Automobiles and Renault marks a setback for a tight network of current and former Goldman Sachs' bankers who tried to convince the French political establishment to back the deal.
Cole was directly involved in the negotiations on behalf of Renault and had Goldman's chairman of investment banking, FX de Mallmann, as his counterpart representing FCA. The Goldman network had been expected to secure the backing of Macron's government before the deal became public, several sources said, adding Goldman deployed staff from its New York, Paris and London offices in a bid to win France's blessing.
Goldman declined to comment on this report, while Ardea Partners was not immediately available for comment.
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