NEW YORK CITY (dpa-AFX) - German banking major Deutsche Bank AG (DB) has sold unwanted assets worth $50 billion to Goldman Sachs (GS) as part of its restructuring, reports said citing people with knowledge of the matter.
The divested assets were related to a portfolio of emerging market debt derivatives.
The German bank is offloading business areas as part of a major overhaul. In July, the company announced as many as 18,000 job cuts under the restructuring.
Copyright RTT News/dpa-AFX
© 2019 AFX News
