Deutsche Bank and LGT end negotiations on BHF-BANK
Deutsche Bank 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.
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a substantial private clients franchise. Its businesses are mutually reinforcing. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in 74 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, people and the communities in which it operates.
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