On Thursday 27th February 2014, Reuters announced that the European Private Equi

Question

On Thursday 27th February 2014, Reuters announced that the European Private Equity, Permira, had agreed to buy investment manager, Tilney, from Deutsche Bank. Source: http://uk.reuters.com/article/2014/02/27/uk-permira-tilneyidUKBREA1Q19820140227 (Accessed: 14th March 2014) Required: You are required to research the above deal from its initial inception to completion. You should pay particular attention to the following: (i) Synergies and expected gains from the acquisition; [50 marks] (ii) The potential motives of, and the investment strategy of, the providers of private equity, Permira, in this acquisition. [50 marks]

Explanation / Answer

Initial inception to completion:

Deutsche Bank is in exclusive talks with private equity group Permira to sell the lossmaking part of its UK wealth management business as part of a strategy to concentrate on ultra-rich clients.

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