Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Enter Round Two of the DWS Auction Not Rated 4.0 Email Routing List Email & Route  Print Print
Thursday, January 12, 2012

Enter Round Two of the DWS Auction

News summary by MFWire's editors

It looks like around a dozen bidders made it to round two of the DWS auction. Reuters reports that Deutsche Bank AG has chosen around 12 bidders to conduct due diligence and submit binding offers by the end of next month.

The bank announced last November the strategic review of its global asset management division, except the DWS mutual fund operations in Germany, Europe and Asia, but including the DWS business in the U.S.

The Reuters article today did not name the bidders that made it to the next round. However, Dow Jones and City A.M both pointed to private equity firm Advent International as one of the bidders in the first round, and City A.M also named BlackRock.

It's unclear whether either bidder made it to the second round.

According to City A.M, up to 50 potential bidders "have shown interest."

Bloomberg reports that more than two dozen firms submitted first-round offers by the end of last week. Pleased with the interest, the Deutsche Bank management board officially decided at a meeting on January 10 to pursue a sale, an unnamed source told Bloomberg. The same source added that Deutsche Bank would prefer selling the business as a whole but would also consider bidders who are interested in buying pieces.

Sources told the wire service that some suitors valued the entire package between 1.5 billion euros ($1.9 billion) and 2.5 billion euros, while some made bids for portions of the business.  

Edited by: HFD


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

4.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use