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EU: Amundi eyeing DWS deal

By  |  May 20, 2019

France’s largest asset manager Amundi is exploring a deal to merge its operations with Deutsche Bank’s listed asset manager DWS, but only if it can take control, a source familiar with Amundi’s strategy said.

The idea of merging DWS with a peer emerged in recent months as Deutsche Bank discussed a possible merger with smaller rival Commerzbank, although those talks have since ended in failure.

“Amundi would not necessarily buy all [of DWS] and would be ready to leave a stake of DWS listed on the stock market, but there is no point in being a minority partner,” the source said.

However, several sources familiar with Deutsche Bank’s plans told Reuters that the German lender is unwilling to sell a controlling stake in DWS.

A partial sale of DWS would have helped Deutsche Bank finance its proposed merger with Commerzbank, but now that those talks have collapsed, the urgency to do an asset management deal has fizzled out.

Full Content: Reuters

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