Deutsche Bank Moves Forward With Plans To Sell Asset Management Business

Josef Ackerman Deutsche Bank

Bloomberg News is reporting that Deutsche Bank’s leaders have agreed to move forward with the sale of the firm’s asset management division.

Around two dozen private equity firms, banks, insurance companies, and the like have put in their preliminary offers, the report said.

Here’s what preliminary bids were, according to Bloomberg News’ sources:

Some bidders valued all of the assets between 1.5 billion euros ($1.9 billion) and 2.5 billion euros, while others made offers for pieces of the business, the people said.

But wait…

The bank could still change its mind and decide not tell sell the unit, one source told Bloomberg.