Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) and LGT have ended negotiations on the sale of BHF-BANK. The two institutions had reached a consensus on the sale of BHF-BANK and already drawn up, ready to sign, an agreement mutually beneficial to Deutsche Bank, LGT and BHF-BANK. Following discussions between the parties and with the competent supervisory authorities however, Deutsche Bank and LGT decided not to pursue the transaction any further.
Deutsche Bank regrets the fact that the transaction did not come about. In order to give clients and staff of BHF-BANK certainty right away about further developments, and to offer them clear and sustainable long-term prospects, the Management Board of Deutsche Bank has decided not to continue the process of selling BHF-BANK.
Rather, the bank will implement its alternative plan and continue the successfully launched process of transforming and modernising the business operations of BHF-BANK within Deutsche Bank Group. The main objective here will be to further strengthen the successful Private Wealth and Asset Management business. Deutsche Bank will announce more details on this as soon as possible.
Forward-looking statements contain risks
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 15 March 2011 under the heading “Risk Factors.” Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.
This release may also contain non-IFRS financial measures. For a reconciliation to directly comparable figures reported under IFRS, refer to the 4Q2010 Financial Data Supplement, which available at www.deutsche-bank.com/ir.