Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) announced today that it has concluded exclusive negotiations with Guggenheim Partners over a potential sale of RREEF, its global alternative asset management business.
The parties were unable to agree on terms for the sale of the business and mutually agreed to end exclusive negotiations.
The Bank also announced that the strategic review of its global Asset Management division, initiated in November 2011, has concluded. The Bank will make a further update on its Asset & Wealth Management division as part of its commitment to communicate a long-term, Bank-wide strategy in September.
The strategic review of the global Asset Management division, announced on November 22, 2011, covered all of the Asset Management division globally except for the DWS franchise in Germany, Europe and Asia, which the Bank had already determined was a core part of its retail offering in those markets.
For further information, please call:
Deutsche Bank AG
Press & Media Relations
Dr. Klaus Winker
Phone: +49 (0) 69 910 32249
Phone: +1 212 250-5536
+49 69 910 35395 (Frankfurt)
+1 212 250 1540 (New York)