Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) today announced it has entered into legally binding agreements to acquire the remaining 60% of United Financial Group (UFG). The transaction is expected to close in the first quarter of 2006 subject to regulatory and anti-monopoly approvals. The parties have agreed that financial terms will not be disclosed.
Founded in 1994, Moscow-based UFG has established a leading position as a full-service
investment company for international and Russian clients.
The acquisition follows Deutsche Bank’s purchase of a 40% stake in UFG in 2004. Since then UFG and Deutsche Bank have worked successfully together in a strategic partnership. The acquisition will consolidate Deutsche Bank’s position as one of the leading investment banks in Russia, with an unrivalled presence in advisory, equities, fixed income and derivatives markets.
Tessen von Heydebreck, member of Deutsche Bank’s Board of Managing Directors, said: “Our partnership with UFG has been highly successful in creating one of the leading players in Russian investment banking. The final acquisition allows us to build on this successful partnership and underscores our strategic commitment to Russia, one of the most exciting growth economies in the world. The new entity will combine the skill sets of both organisations to create a leading force in the Russian market and to become an integral part of Deutsche Bank’s premier global investment banking franchise.”
For further information, please contact:
Press and Media Relations
Elaine Bartleet Tel: +44 7207 545 4907 (London)
Armin Niedermeier Tel: +49 69 910 33402 (Frankfurt)
Olga Podoinitsyna Tel: (+7 495) 797 5303 (Moscow)
Tel: +49 69 910 35395 (Frankfurt)
Tel: +1 212 250 7125 (New York)
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