Deutsche Bank’s negotiation with Guggenheim Partners over the sale of the German lender's US asset management business is “well on track”, according to a Deutsche spokesperson, who declined to comment on an alleged price of around $2 billion.
Reuters reported that the consideration would be between €1.5 billion and €1.6 billion ($2-2.1 billion), and that an agreement is expected to be reached this month.
When the negotiations first became known in February the deal was expected to be finalized at the end of last month.
The spokesperson told this publication that Deutsche's private wealth management business would be unaffected by the potential deal.
The business units under discussion are DWS Americas, the Americas mutual fund business; DB Advisors, the global institutional asset management business; Deutsche Insurance Asset Management, the global insurance asset management business; and RREEF, the global alternative asset management business.