Deutsche Bank will take over the full ownership and operating control over Xchanging Transaction Bank
Deutsche Bank AG and Xchanging plc. signed binding agreements regarding the sale of the 51 % shares in the joint venture Xetb established in 2004 currently held by the partner Xchanging to Deutsche Bank for a purchase price of EUR 40.5 million.
Xetb is the holding company of Xchanging Transaction Bank GmbH (XTB) that provides services in relation to the securities processing business for Deutsche Bank as well as for external clients.
The transaction is amongst others subject to approvals by the regulators and Xchanging shareholders. After closing Deutsche Bank will have full ownership and operating control over XTB.
This transaction contributes to Deutsche Bank Strategy 2015+ to improve operating efficiency and to reduce redundancies, complexity and costs. Deutsche Bank will stay committed to offer efficient and high quality securities processing services to XTB’s existing clients, including Deutsche Bank Group.
For further information, please contact:
Deutsche Bank AG
Press & Media Relations
Phone: +49 69 910-33405
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 April 2013 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.deutsche-bank.com/ir.