Deutsche Bank today announced it has completed its purchase of 60% of its Latin American equity joint venture, Deutsche Ixe, from its Mexican partner Ixe Grupo Financiero. This brings Deutsche Bank's ownership to 100% of the entity.
The acquisition consolidates Deutsche Bank's position as one of the leading investment banks in Latin America. It follows similar recent trans actions in Russia and Turkey that are part of the Bank's strategy to achieve a dominant position in emerging market equities around the world.
Deutsche Ixe was formed in 2003 as a joint venture between Deutsche Bank and Ixe Grupo Financiero. It has grown to be a highly respected research force in the Latin American equity markets and an active player in the growing primary market for Latin American equity transactions. The new platform leverages Deutsche Bank's formidable cash and derivatives trading expertise and will enable the firm to become a leading player in this increasingly important destination for portfolio and direct investment.
Deutsche Bank and Ixe Grupo Financiero will continue to collaborate on various projects of mutual interest in the region.
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