DWS: could reach critical mass with UBS

(CercleFinance.com) - According to the Financial Times (FT), the banks Deutsche Bank and UBS have over two months been in serious talks to merge their respective asset management divisions - represented by DWS at Deutsche Bank, an entity that recently has been separately listed.


If it occurs, this deal would give birth to a new European sector giant,
with assets under management of almost 1.400 billion euros, which would
even exceed Axa and Legal & General, and which would be on the heels of
the French leader Amundi, which at the end of December last year managed
assets of 1,425 billion euros.

Again, according to the FT, one of the possibilities would be that UBS
splits its asset management business (which has 700 billion euros in
assets under management) and brings it to DWS (which manages 662 billion
euros), and be paid in shares. Deutsche Bank, which currently holds 79%
of DWS, would then see its stake diluted, although it would still be the
largest shareholder.


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