Deutsche Bank is looking to float a minority stake in its asset management division to potentially rebuild its capital buffers in the event of a $14bn fine from the US.
According to the Financial Times, the firm has not made a final decision and any potential deal is unlikely to take place before the first half of 2017. The asset management arm has €719bn in AUM and is estimated to be worth €8bn. Deutsche Bank is currently embroiled in a legal battle with the US Department of Justice for selling toxic residential mortgage-backed securities before the financial crisis. The DoJ is keen to fine the firm as much as $14bn, prompting fears the company could require a government bail-out. Deutsche has said it is unwilling to pay a sum this large and, las...
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