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August 5, 2009

WBrief: Deutsche in talks to bid for Sal Oppenheim

By Spear's

Deutsche Bank, Germany’s biggest bank, confirmed recent media speculation by announcing that it was in talks to form a “strategic partnership” with the Luxembourg-headquartered private bank, Sal Oppenheim.

Deutsche Bank, Germany’s biggest bank, confirmed recent media speculation by announcing that it was in talks to form a “strategic partnership” with the Luxembourg-headquartered private bank, Sal Oppenheim.

The German banking giant said it has made a “non-binding offer” for a capital stake in Sal Oppenheim. According to a statement, Sal Oppenheim will allow Deutsche Bank to conduct due diligence checks as part of the offer.

The size of any stake, or the financial cost of acquiring it, was not disclosed. However, a spokesperson told WealthBriefing: “Negotiations are going constructively. The aim is a minority stake [in Sal Oppenheim] for now.”

To read the full story, visit wealthbriefing.com

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