Daily Management Review

Deutsche Bank sells assets for $ 51 billion to Goldman Sachs


11/28/2019


Deutsche Bank sold a portfolio of securities with a face value of £ 40 billion ($ 51 billion) to Goldman Sachs, Bloomberg reports citing sources, and notes that the German bank got rid of assets that were unnecessary to it.



Thomas Wolf
Thomas Wolf
The subject of the transaction were debt securities of emerging markets. They were the balance sheet of the unit whose operations the bank was planning to curtail, the agency’s sources say.

Deutsche Bank is refusing those business lines in which it could not successfully compete with other banks. The reduction in assets on the balance sheet is one of the key moments of the business reorganization strategy, announced by the bank in July this year.

Goldman Sachs previously bought at least one set of securities for sale by Deutsche Bank. In September this year, an American investment bank acquired the Asian portion of its portfolio of derivatives for Deutsche Bank shares.

source: bloomberg.com






Science & Technology

Airbus: Passenger hybrid aircraft to take off before 2035

Ocado To Introduce ‘Mini Robotic Warehouse’ With Standard Productivity

AB InBev’s Piled Up Alcohol Is ‘Too Good to Waste’

Ericsson Mobility forecasts nearly fourfold increase in mobile traffic by 2025

Elon Musk: We received 146,000 orders for Cybertruck

Google turns the screws on political ads

Apple to come up with AR glasses

WEF: Big data regulation becomes a problem

Israeli Firm Accused Of Spying By WhatsApp, Lawsuit Filed Against It

Google Used Quantum Computer To Solve Complex Problem

World Politics

World & Politics

Protests in France gain the greatest scale since 2010

Massive blackout unfolds in Venezuela

French And Russian Presidents To Discuss The Moratorium On Missiles In Europe

EU adopts budget for 2020, more funds allocated to climate change fight and innovation

Israeli prime minister indicted in three criminal cases

Argentina finds a way to pay off IMF loan

Sweden closes Assange rape inquiry

Has Chile Put All Its Eggs In One Basket To Turn Towards Renewable Energy?