Deutsche Bank (XETRA:DBKGn.DE/NYSE:DB) today reduced its stake in DaimlerChrysler AG from 6.9 per cent to 4.4 per cent. The bank placed 25 million shares, equivalent to 2.5 per cent, with institutional investors. The shares were sold for € 43.20 per share. The proceeds are nearly EUR 1.1 billion, resulting in a pre-tax profit of more than EUR 300 million. The selling shareholder is DB Equity S.à r.l., Luxembourg, a fully owned Deutsche Bank Group company.
As with previous placements the transaction is part of Deutsche Bank’s ongoing policy of disposing of its remaining shareholdings in listed companies.
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