Deutsche Bank is preparing plans to sell off parts of its subsidiary Deutsche Asset Management, according to Handelsblatt sources at the financial institution.
A partial flotation of Deutsche Asset Management is considered a done deal, a fund expert within the institution told Handelsblatt on condition of anonymity. Another source at Deutsche Asset said there are “concrete preparations” for an initial public offering.
The supervisory board at Deutsche Bank, however, has not yet made a final decision, sources said. It’s still possible that the board could decide against a partial flotation.
There have been rumors since last fall that Deutsche Bank could sell 25 percent of its shares in Deutsche Asset Management. The subsidiary has a stock market value of at least €6 billion, according to insider sources.
Deutsche Bank and Deutsche Asset Management declined to comment.
Read the full story in Wednesday's Handelsblatt Global. http://hbge.net/iqml2