Goldman Sachs has taken a 50% stake in German cash transport company SecurLog, which was formerly called Heros before sliding into insolvency in February on the back of a €300m ($384m) alleged fraud scandal.

The US bank has taken the stake in SecurLog for an undisclosed price and will be one of two investors in the German company alongside US distressed investment fund MatlinPatterson. The fund has roughly $3.8bn (€3bn) in assets under management and was set up four years ago by two former senior bankers at Credit Suisse First Boston.