Navigation

Skiplink Navigation

Main Features

Deutsche Bank reportedly chasing Zurich Scudder

Deutsche Bank, headquartered in Frankfurt, has its eyes on Zurich Scudder

(Keystone)

Deutsche Bank is reportedly seeking to swap its German life insurance unit for Zurich Scudder, the US asset management arm of Zurich Financial Services.

Unnamed sources said to be close to the negotiations told Reuters news agency that talks were at an advanced stage but that closure was still some weeks off.

Deutsche Bank has long been searching for a suitable acquisition in the US asset management market.

Analysts say the deal could be worth around SFr5 billion ($3 billion), and expect Deutsche Bank to pay about a third of that sum in cash. Zurich Financial said earlier this year that it intended to sell the loss-making unit.

Zurich Financial shares recovered some loss ground on Friday on rumours that a deal was close. Thursday saw the share price plummet nine per cent to a four and a half year low amid poor results for the first half of the year.

swissinfo with agencies


Links

Neuer Inhalt

Horizontal Line


swissinfo EN

The following content is sourced from external partners. We cannot guarantee that it is suitable for the visually or hearing impaired.

Join us on Facebook!

subscription form

Form for signing up for free newsletter.

Sign up for our free newsletters and get the top stories delivered to your inbox.







Click here to see more newsletters