Deutsche Bank and Liechtenstein’s LGT Group
are a step closer to closing the sale of BHF Bank.
The banks said they are in agreement on
important terms concerning the sale and are to conduct immediate
negotiations to finalise contractual details.
Go deeper with GlobalData
Deutsche and LGT said they are to keep
discussions confidential until the first quarter of 2011.
BHF, which has about 1,500 employees, was
acquired by Deutsche in March 2010 with the €1bn ($1.3bn) purchase
of its parent Sal Oppenheim.
BHF reported total assets under management
(AuM) of €43bn at the end of last year and operating profits of
€30m.
International wealth and asset management firm
LGT Group is domiciled in Vaduz, Liechtenstein with AuM of
CHF86.8bn ($91.9bn) at June 2010.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
