Germany's biggest lender, the Deutsche Bank, sells its private banking unit BHF-Bank to Kleinwort Benson Group.
"Under the proposed transaction, Kleinwort Benson Group will acquire 100 percent of BHF-Bank for an agreed consideration of 384 million euros, which will be paid in cash and is subject to closing purchase price adjustments," the bank announced in a statement on September 20.
Kleinwort Benson is a wholly owned subsidiary of RHJ International financial services group.
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