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.
Helping Renault was New York-based Ardea Partners, a boutique advisory firm launched in 2016 by Chris Cole who had spent 30 years at Goldman Sachs including co-chairing the investment banking business. The pair worked closely with another former Goldman banker, Laurent Clarenbach, who spent 10 years at the Wall Street bank between 2001 and 2011 and is now a partner at French boutique bank d’Angelin & Co.
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.
So one out a hundred - PHONY GOLD - got what it deserves. But will probably still make billions in losing . The epitome of corruption !
Not the first time 'FCA' and 'blow' have appeared in the same sentence, but the context is different this time.
Collapsed? Just like both cars! What piles of junk.
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