Reuters - Black Rock, Soros said interested in Deutsche asset management IPO

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BlackRock, George Soros and big sovereign wealth funds are among investors expressing interest in buying stakes in the initial public offering of Deutsche Bank’s asset management arm, a person familiar with the matter said on Tuesday.

Reuters reports that the sovereign funds include Singapore’s Temasek [TEM.UL] and Saudi Arabia’s Public Investment Fund (PIF), the person said.

Deutsche Bank is finalizing plans for the IPO of the asset management business, known as DWS, that have been a year in the making. Deutsche is expected to sell 25 percent of existing DWS shares for 1.5-2 billion euros ($1.9-$2.5 billion), people close to the matter have said.

DWS is seeking anchor investors, the person said, while it also wants to ensure the liquidity for the free floating shares.

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BlackRock, Soros may invest in Deutsche's asset management IPO: source

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