Deutsche Bank: Largest takeover in more than a decade – Economy

Deutsche Bank surprisingly buys in investment banking and takes over the London stockbroker Numis. The Frankfurt money house offers 410 million pounds (464 million euros) for Numis, as both institutes announced on Friday. It is the largest acquisition for Deutsche Bank in more than a decade, which the institute is also paying a lot for. At 350 pence per share – including two interim dividends – the offer is 72 percent higher than Thursday’s Numis closing price. Around noon, Numis shares were up around 67 percent. Those of Deutsche Bank hardly changed. Numis employs almost 350 people, provides British companies with capital market services and is active in stock trading, among other things – a business from which Deutsche Bank actually got out. The timing is also surprising: Numis and other companies just had it warned of a weak phase in the British capital market. Nevertheless, Deutsche Bank sees opportunities there. “The merger allows us to capture greater revenue opportunities within our combined client base and deepen our exposure to UK businesses,” said Fabrizio Campelli, Chief Investment Banker at Deutsche Bank. CFO James von Moltke emphasized that the money house would not go back into stock trading on a large scale. // mesc