The transaction is subject to regulatory approvals.<\/p>\n
Under the proposed transaction, Kleinwort Benson Group will
\nacquire 100% of BHF-BANK for an agreed consideration of
\n\u20ac384 million, which will be paid in cash and is subject to
\nclosing purchase price adjustments.<\/p>\n
With its significant market positions in private banking,
\nasset management, corporate business and financial markets,
\nand total assets under management of approximately \u20ac36
\nbillion, BHF-BANK represents a strong strategic fit with
\nKleinwort Benson Group’s existing businesses, which
\ncomprise Kleinwort Benson Bank, Kleinwort Benson Channel
\nIslands Holdings and Kleinwort Benson Investors.<\/p>\n
Leonhard Fischer, Chief Executive Officer of Kleinwort
\nBenson Group and RHJ International, said: “BHF-BANK is an
\nattractive business to us, with significant positions across
\nits core businesses, a rich heritage and a strong balance
\nsheet. With their client focus on entrepreneurs, corporates
\nand wealth creators, and strong prospects in their domestic
\nmarkets, Kleinwort Benson Group and BHF-BANK are also
\nstrategically well-aligned. We therefore see the proposed
\nacquisition as a significant opportunity to create a strong,
\nclient-centric financial services group.”<\/p>\n
Henry Ritchotte, Chief Operating Officer of Deutsche Bank,
\nsaid: “With the planned acquisition of BHF-BANK by
\nKleinwort Benson Group, we have found the best solution for
\nall parties, in particular for BHF-BANK’s valued clients.
\nFor the new, stronger BHF-BANK, this can open up
\nsustainable, long-term prospects. Over the last few months,
\nBHF-BANK has implemented its plans to decisively modernize
\nand streamline its banking platform. It is therefore in an
\noutstanding position to continue to operate its realigned
\nbusiness model successfully.”<\/p>\n
Bj\u00f6rn H. Robens, Spokesman of BHF-BANK’s Board of Managing
\nDirectors, said: “The signing is very positive news for our
\nclients and the bank. We are happy that the group of
\nprestigious investors from all over the world confirms the
\nattractiveness of our business model. This reflects the
\nquality of our bank and shows the excellent prospects seen
\nfor our bank as a modern partner for companies and
\nentrepreneurs.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Deutsche Bank confirmed today that it has reached agreement with Kleinwort Benson Group, the wholly owned subsidiary of financial services group RHJ International, on the sale of BHF-BANK, one of Germany’s leading private banks.<\/p>\n","protected":false},"author":20,"featured_media":25134,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1656,2045,1671,1436,1437,1706],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/25136"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=25136"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/25136\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/25134"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=25136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=25136"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=25136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}