Tag: Yahoo Finance

Deutsche Bank Sells $50 Billion Book of Assets to Goldman

(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Deutsche Bank AG sold another chunk of unwanted assets to Goldman Sachs Group Inc. as part of a radical restructuring that’s seeing the German firm exit businesses where it’s been unable to compete.The nation’s largest lender recently sold securities with a notional value of about 40 billion pounds ($51 billion) to the U.S. bank, people briefed on the matter said. The assets are tied to emerging market debt and were previously housed in Deutsche Bank’s wind-down unit, one person said. They asked not to be identified discussing the private deal.Representatives for Deutsche Bank and Goldman Sachs declined to comment.Deutsche Bank shares rose as much as 1.9% on the news, paring this year’s decline to about 3.6%. That compares with a slight increase for the wider industry.It’s at least the second time that Goldman...