Photo: AP Photo/Jason Redmond
Deutsche Bank is now in the “indicative bid” stage of selling its asset management business, the Wall Street Journal reports.This is the most we’ve gotten from the bank about concrete, external moves toward selling the business. Back in November we heard that they were considering it, and that all options were on the table, but that was about it.
Now, interested parties can go ahead and tell the bank how much they would be willing to pay for its asset management arm. If Deutsche likes what it sees, it will sell, and its own investment banking team would take care of the deal.
Apparently, around 50 private equity firms, banks, insurance companies, and the like have put in their bids.
So the question now is how much could Deutsche get? Morgan Stanley estimates it could be anything between EUR1 billion and EUR2 billion, while Goldman says it could be between EUR1 billion and EUR4 billion.