(Reuters) Deutsche Bank (DBKGn.DE) has asked banks to pitch for work on an initial public offering (IPO) of its asset management business that could raise around 2 billion euros (£1.7 billion), two people close to the matter said on Tuesday.
Germany’s largest lender said in March it planned to list the asset management arm, which could achieve a total valuation of around 8 billion euros, within two years as part of a broader overhaul following costly lawsuits and trading scandals.
Deutsche Bank Asks Banks to Pitch for Asset Management IPO
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