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Bulletin: Deutsche Bank AG Ratings Unaffected By Acquisition Of Commercial Business From ABN AMRO Jul 08
Standard & Poors, July 2008
Abstract
FRANKFURT (Standard & Poor's) July 3, 2008--Standard & Poor's Ratings Services said today that the ratings on Deutsche Bank AG (AA/Negative/A-1+) are unaffected by the agreed acquisition of parts of the commercial banking activities of ABN AMRO Bank N.V. (AA-/Developing/A-1+) in the Netherlands for -709 million in cash. In a group context, the transaction is limited in scale and fits into Deutsche Bank's strategy to strengthen its noninvestment banking activities through measured acquisitions. Moreover, the terms of the purchase agreement are favorable to Deutsche Bank, and at the outset the transaction will not negatively affect its capitalization. Deutsche Bank will acquire the businesses at a discount of approximately -300 million to their net asset value and ABN AMRO will provide...
Companies mentioned in this report are: Deutsche Bank AG,The Royal Bank of Scotland N.V.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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