Guggenheim Partners and Deutsche Bank have ended talks over the sale of RREEF after failing to agree terms.
The talks have been ongoing since February when the US investment manager secured an exclusive position to buy all of the German bank’s asset management businesses.
In May the talks narrowed to just focus on the real estate business, which has around €47bn in assets under management.
The businesses were put up for sale by Germany’s flagship lender in light of new regulation, rising costs and growing competition that is expected to weigh on future earnings.
The German lender originally attempted to sell DWS Americas, the Americas mutual fund business; DB Advisors, the global institutional asset management business; and Deutsche Insurance Asset Management, the global insurance asset management business.
A statement from the bank said the parties “were unable to agree on terms for the sale of the business and mutually agreed to end exclusive negotiations”.
Bridget.O’Connell@estatesgazette.com
