Suitors eye up Kleinwort

COMMERZBANK&nbsp;subsidiary Kleinwort Benson, one of the City&rsquo;s most historic names, has whipped up interest from more than 20 trade buyers as well as up to ten private equity firms interested in backing a management buy-out.<br /><br />Goldman Sachs has been putting together a sales memorandum with executives at Kleinwort Benson, which is likely to go out to interested parties next week.<br /><br />Kleinwort Benson has roots dating back to the 1850s and is financial adviser to one &nbsp;FTSE 100 company &nbsp;and 18 FTSE 250 companies.<br /><br />It also manages assets of over &pound;21bn.<br /><br />Sources close to the situation cited its book value of around &pound;300m.<br /><br />Standard Chartered and fund manager Schroders have both been rumoured to be potential buyers.<br /><br />But a number of private equity firms are in a second round of talks aboutthe possibility of a management buy out (MBO).<br /><br />Kleinwort Benson expects Commerzbank to consider a private equity-backed MBO offer even at a modest discount to trade bids, fearing that disgruntled executives at the unit might balk at being sold to a rival trade buyer and could walk out ahead of any sale.