Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) today announced that it has signed binding agreements to sell 21.16% in Atradius N.V., the Amsterdam based credit insurer, to Credito y Caucion, Madrid, and Seguros Catalana Occidente, Barcelona.
Following the transaction, which is valued at EUR 208m, Deutsche Bank will retain a 12.73% stake in Atradius. The closing of the transaction is subject to anti-trust and regulatory approvals and is to be expected in the first quarter 2006.
At the same time Sal. Oppenheim jr. & Cie. KGaA signed binding agreements to sell 3.86% in Atradius to Credito y Caucion and Seguros Catalana Occidente.
The sale is another step in Deutsche Bank's ongoing policy of disposing of non-core assets.
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