Germany’s Deutsche Bank has made a non-binding offer to Sal Oppenheim Group for a minority stake in the German private investment bank and wealth manager, according to the Wall Street Journal. The deal would help Deutsche Bank boost its private wealth management business in Germany and give Sal Oppenheim clients more access to Deutsche Bank, the country’s largest bank by market capitalization, Deutsche Bank said. No structural changes to Sal Oppenheim would occur through a stake buy, it was said and a timeline for the deal or details on the size of the potential stake weren’t disclosed. Deutsche Bank is conducting due diligence on Sal Oppenheim, Deutsche Bank said.
Deutsche Bank Makes Offer to Sal Oppenheim
Germany’s Deutsche Bank has made a non-binding offer to Sal Oppenheim Group for a minority stake in the German private investment bank and wealth manager, according to the Wall Street Journal. The deal would help Deutsche Bank boost its private wealth management business in Germany and give Sal Oppenheim clients more access to Deutsche Bank, [...]
August 5, 2009