Deutsche Bank AG has begun the process of selling off a large portion of its global asset management business, and has sent information to prospective buyers on the assets for sale.
Reuters reported that two sources familiar with the process said the price tag was expected to be between 2 billion euros ($2.6 billion) and 3 billion, which is in line with the the lower end of a 2-4 billion euro range originally calculated by analysts in November when Deutsche Bank announced that such a sale was under consideration.
The decision to sell was made in the wake of a strategic review of the business that was spurred by changing conditions within the industry that included regulatory reforms.