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Zurich Near Deal for Deutsche Bank’s Italian Advisers Unit

  • Potential deal is said to value asset at $415 million
  • Both firms last year struck a distribution deal for Germany
Updated on

Zurich Insurance Group AG is nearing a deal to buy Deutsche Bank AG’s Italian financial promoters network, according to people familiar with the matter.

Zurich has emerged as the leading candidate to buy DB Financial Advisors in a deal that would value the asset at about 350 million euros ($415 million), said one of the people, who asked to not be identified because the matter isn’t public. No final decision has been made and discussions could still fall through, the people said.