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Deutsche Bank sells $50 billion in assets to Goldman amid overhaul: sources

November 27, 2019 / Reuters

Deutsche Bank (DBKGn.DE) has sold $50 billion in unwanted assets to Goldman Sachs (GS.N) as part of its restructuring, three people with knowledge of the matter said on Wednesday. The assets, related to emerging-market debt, were part of Deutsche’s unit to wind down unwanted securities, the people said, confirming a development first reported by Bloomberg. As part of a broad overhaul, Deutsche has hived off billions in assets into a so-called capital release unit, also called a bad bank. The sale to Goldman marks the latest in a series of disposals of such assets.