Deutsche Bank Said to Pursue Sale of Asset Management Units

Deutsche Bank AG executives decided to pursue a sale of asset-management units after they were satisfied with early interest in the business, according to two people with knowledge of the matter.

More than two dozen bidders, including banks, private-equity firms and asset managers, handed in preliminary offers last week, said the people, who declined to be identified because talks are private. Some bidders valued all of the assets between 1.5 billion euros ($1.9 billion) and 2.5 billion euros, while others made offers for pieces of the business, the people said. A selected group of potential buyers will be asked to submit second-round bids in February, one person said.