Deutsche's DWS in deal to buy stake in Dubai-based firm -statement

FILE PHOTO: The logo of Deutsche Bank's asset management unit DWS is pictured at the Frankfurt Stock Exchange, Germany March 23, 2018. REUTERS/Kai Pfaffenbach - Copyright KAI PFAFFENBACH(Reuters)

By Reuters

Published on 04/11/2018 - 13:34•Updated 04/05/2024 - 17:59

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DUBAI (Reuters) - DWS Group <DWSG.DE>, Deutsche Bank's <DBKGn.DE> asset manager, has entered into a binding agreement to acquire an equity stake of 15 percent in Dubai-based Neo Technologies, the companies said on Sunday.

Under the deal, DWS and Neo Technologies will form a partnership to collaborate on the development and expansion of digital asset management services in the region, they said.

The value of the transaction was not disclosed.

(Reporting by Davide Barbuscia; Writing by Tom Arnold)

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