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3/7/2018, 12:01 PM (Source: TeleTrader)
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Report: Nippon Life close to buying part of DWS

The asset management segment of Deutsche Bank AG may secure an investment in a minority stake from Nippon Life Insurance Co., the Financial Times wrote on Wednesday. Citing people familiar with the matter, the article adds the transaction won't get near 10% in DWS, which Germany's largest lender plans for stock market listing. The firm, an homage to Deutsche Gesellschaft für Wertpapiersparen, its first registered name, has scheduled to float a quarter of equity capital in Frankfurt this month.

The insurer, the biggest in the life segment in Japan, also goes as Nissay and Nihon Seimei. Deutsche Bank targets €1.5 to €2 billion from the initial public offering. The news outlet said it learned the price range may be announced on March 10. The firm will be registered as a partnership limited by shares, or Gmbh und Co. KGaA.

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