New York, September 20 (FinanceEnquiry.com) – The Belgian company looks for toting up assets in the industry of financial-services and due to this, Deutsche Bank AG (NYSE: DB) consented to offload its BHF-Bank unit to RHJ International (RHJI).
The business will be acquired for 384 million euros, or say, $497 million in cash by Kleinwort Benson Group unit of RHJ International. In addition to this, despite the fact that the ultimate buy price is subject to adjustments, still the transaction needs regulatory approval. With the buy of Sal Oppenheim Group two years ago, Deutsche Bank has looked for a purchaser for BHF after taking the possession of the wealth manager and investment banking operation.
Furthermore, introducing of capital into Kleinwort Benson Group will be done by Fosun Group entities associated with Timothy C. Collins and investment funds that are controlled or sub-advised by BlackRock Inc (NYSE: BLK).A holding of almost 60 percent of Kleinwort Benson Group will be maintained by RHJ International. Reserving 97 million euros of expenses associated with BHF-Bank were informed by Deutsche Bank AG in the month of February.
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