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Deutsche Bank Asks Banks to Pitch for Asset Management IPO

(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.

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