DWS, the asset management arm of the Deutsche Bank, is reportedly carrying out final discussions for the sale of a controlling interest in its IKS fund platform to French private equity firm BlackFin Capital Partners.
The French firm is in exclusive negotiations to buy the stake for approximately $362m (€300m), Bloomberg reported citing people with knowledge of the matter.
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Terms of the potential deal have not been finalised, according to one of the sources.
DWS is expected to finalise a deal in the next few weeks, the sources divulged.
Notably, in January last year, the firm picked a 24.9% interest in Arabesque AI, a UK-based technology firm with an AI engine to forecast the stock price.
DWS was also in the news earlier this year for plans to reduce office space in Frankfurt as its employees continue to work from home amid the Covid-19 pandemic.
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By GlobalDataRecent deals
Last week, German stock exchange operator Deutsche Börse agreed to purchase the remaining 49% stake in Clearstream Fund Centre from UBS for approximately $427m (CHF390m).
The same week, Australian lender Westpac reportedly hired Morgan Stanley to advise the bank on the sale of its wealth management businesses.
The unit is expected to attract global private equity investors as well as financial institutions in Australia eyeing to bolster their operations in the country.
Last month, Dutch insurer NN Group said that it is weighing the sale of its asset management business NN Investment Partners, which manages over $363bn (€300bn) in assets.
The company is considering a range of options including a merger, joint venture, or (partial) divestment for the unit.
In March this year, reports suggested that Chinese e-commerce company JD.com is looking to expand its financial services operations with the purchase of a stake in Sinolink Securities.
