BlackRock, Soros interested in IPO of Deutsche Bank unit: source


FRANKFURT (Reuters) – BlackRock (BLK.N), George Soros and major sovereign wealth funds are among the investors expressing interest in buying stakes in the initial public offering of Deutsche Bank’s (DBKGn.DE) asset management arm, a person familiar with the matter said on Tuesday. FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 30, 2017. REUTERS/Brendan McDermidThe sovereign funds include Singapore’s Temasek [TEM.UL] and Saudi Arabia’s Public Investment Fund (PIF), said the person, speaking as the bank puts the final touches on the DWS IPO that has been a year in the making. FILE PHOTO: Business magnate George Soros arrives to speak at the Open Russia Club in London, Britain June 20, 2016. REUTERS/Luke MacGregor/File PhotoBut Deutsche Bank’s largest investors, the Qatari royal family and the Chinese conglomerate HNA [HNAIRC.UL], were not expected to invest in the IPO, said the person, who disclosed the potential investor base on condition of anonymity because the IPO process is ongoing. DWS is seeking anchor investors, the person said, while it also wants to ensure the liquidity of the free floating shares. Deutsche Bank declined comment. The investors declined to comment or could not immediately be reached for comment. Reporting by Tom Sims, Hans Seidenstuecker and Arno Schuetze; Editing by Kathrin Jones and Christoph SteitzOur Standards:The Thomson Reuters Trust Principles.
Source: Reuters