Goldman Sachs acquires EUR 50 billion portfolio from Deutsche Bank
Deutsche Bank’s «bad bank» has sold assets with a total volume of 50 billion dollars to the US investment bank Goldman Sachs. According to reports by several insiders, these financial titles are linked to fixed-income securities from emerging markets. The assets were stored in the internal «Capital Release Unit» (CRU) of Deutsche Bank, which was founded in the summer. The price Goldman Sachs paid for the portfolio is not known.
Deutsche Bank’s CRU, which was founded in July, started with a total of 288 billion euros in bad assets; by September, the bad bank had already reduced assets worth more than 100 billion euros. The CRU intends to sell all its titles in the course of next year. The current transaction was well received on the stock market. Reuters
(Derechos de las imágenes: istockphoto.com/Dan Totilca)
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