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Benedicte Gravrand, Opalesque Geneva:
Deutsche Bank, Germany's global investment bank, announced in an email communication today that its Management Board, which initiated a strategic review of its Asset Management division on November 2011, had agreed to focus its exclusive negotiations with Guggenheim Partners on a potential sale of RREEF, its global alternative asset management business.
This all started in February. Back then, Deutsche entered exclusive negotiations with Guggenheim on the sale of its whole set of asset management operations. These operations include DWS Americas, the Americas mutual fund business; DB Advisors, the global institutional asset management business; Deutsche Insurance Asset Management, the global insurance asset management business; and RREEF, the global alternative asset management business.
But now, the Bank and Guggenheim are focusing on RREEF only. Guggeheim may have lost interest in the three other units, or Deutsche seeking for a higher bid.
It was reported in early February, before the announcement of exclusive negotiations with Guggenheim, that Macquarie Group Ltd., Australia’s biggest investment bank, was vying with at least thr...................... To view our full article Click here
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