FRANKFURT, Nov 11 (Reuters) - Deutsche Bank has
selected Barclays, Citigroup and Credit Suisse
as senior bookrunners for the initial public offering
(IPO) of its asset-management arm, a source familiar with the
matter told Reuters on Saturday.
A spokesman for Deutsche Asset Management declined to
comment on the selection of bookrunners, which was first
reported on Friday by Bloomberg.
Deutsche Bank, which will be the main bookrunner, said in
March it planned to list the asset management arm, which could
achieve a total valuation of around 8 billion euros ($9
billion), within two years as part of an overhaul following
costly lawsuits and trading scandals.
It is expected to raise about 2 billion euros from listing
about a quarter of the business.
The junior bookrunners helping to market the IPO to
investors will be BNP Paribas, Unicredit,
UBS, Morgan Stanley and ING.
"The decision in favour of these banks has already been
taken," the person said.
($1 = 0.8574 euros)
(Reporting by Andreas Framke; Editing by Georgina Prodhan and
Alexander Smith)
(c) Copyright Thomson Reuters 2017. Click For Restrictions - http://about.reuters.com/fulllegal.asp
