Deutsche Bank announced the sale of its 20% stake in Chinese bank Hua Xia Bank for an amount of over 3 billion euros. “Deutsche Bank has agreed to sell its entire 19,99% stake in Hua Xia Bank to PICC Property and Casualty Company (Chinese insurance group, ed.) for an amount ranging from 23 to 25,7 billion yuan, a depending on the final price adjustments at the closing of the transaction” reads the note of the German bank.
The amount of the transaction is therefore equivalent to a range of approx 3,2-3,7 billion euros.
