Deutsche Bank in talks with LGT over 2011 BHF sale

FRANKFURT (BestGrowthStock) – Deutsche Bank (DBKGn.DE: ) has entered into exclusive talks with LGT (LGTGFF.UL: ) over the sale of Frankfurt-based wealth manager BHF.

In a statement, Deutsche Bank said it had reached agreement on key aspects of the sale and that contractual details should be finalized in the first quarter of 2011.

LGT and Deutsche Bank have agreed not to disclose further details.

The global investment bank has been on the lookout for a potential buyer ever since it inherited BHF through the 1 billion euro ($1.31 billion) purchase of Sal. Oppenheim in March.

(Reporting by Michelle Martin)

($1=.7613 Euro)

Deutsche Bank in talks with LGT over 2011 BHF sale