Deutsche Bank targets France for expansion
Article Abstract:
Germany's Deutsche Bank AG has recently made three large deals with firms in as many countries. Most recently, the financial institution bought France's Credit Lyonnais SA for $594 million. This was precluded by the formation of a joint venture with Nippon Life Insurance Co. of Japan, and the purchase of Bankers Trust Corp. in the United States for $10.1 billion. The bank's recent activities show its commitment to expansion.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Deutsche Bank AG to buy Bankers Trust in $9.5 billion deal
Article Abstract:
Deutsche Bank AG is expected to announce that it is acquiring Bankers Trust Corp. in a $9.5 billion agreement. The transaction will create the largest financial services entity in the world. The merged institution would have over $800 billion in assets. The deal will also be the largest trans-Atlantic banking sector purchase ever. Deutsche's board of directors have given their approval to the deal. The merged entity would surpass UBS AG of Switzerland's asset worth of $789 billion.
Comment:
Deutsche Bank AG expected to announce it is acquiring Bankers Trust in a $9.5 billion agreement
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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