Deutsche Bank AG (DB:DBK), The Royal Bank of Scotland Group plc, Barclays PLC, Citigroup, Inc. (NYSE:C), JPMorgan Chase & Co., Nomura Holdings, Inc. and Merrill Lynch & Co., Inc. acquired 12% stake in Traiana Inc. from ICAP plc for $36 million.
January 14, 2013 at 04:00 am
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Deutsche Bank AG (DB:DBK), The Royal Bank of Scotland Group plc (LSE:RBS), Barclays PLC (LSE:BARC), Citigroup, Inc. (NYSE:C), JPMorgan Chase & Co. (NYSE:JPM), Nomura Holdings, Inc. (TSE:8604) and Merrill Lynch & Co., Inc. (all referred as investors) acquired 12% stake in Traiana Inc. from ICAP plc (LSE:IAP) for $36 million on January 14, 2013. Collectively, the investors also have an opportunity under certain conditions to acquire in the future an additional 20% equity in Traiana for a price of up to $82.5 million. As part of the agreement, Traiana created a new Board of Directors, led by Traiana Founder and Executive Chairman, Gil Mandelzis. The Board of Directors includes Traiana's Chief Executive Officer, Andy Coyne, and a representative from each of the investing banks. ICAP will continue to consolidate Traiana as a subsidiary. For the six month period ending September 30, 2012 Traiana had revenues of £20 million ($32.25 million). Evercore Partners Inc. acted as financial advisor for Traiana Inc. and ICAP plc. The conversions are done through OANDA.com as of January 14, 2013.
Deutsche Bank AG (DB:DBK), The Royal Bank of Scotland Group plc (LSE:RBS), Barclays PLC (LSE:BARC), Citigroup, Inc. (NYSE:C), JPMorgan Chase & Co. (NYSE:JPM), Nomura Holdings, Inc. (TSE:8604) and Merrill Lynch & Co., Inc. completed the acquisition of 12% stake in Traiana Inc. from ICAP plc (LSE:IAP) on January 14, 2013.
Deutsche Bank AG is one of the largest German banking groups. Income breaks down by activity as follows:
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- corporate banking (26.7%);
- asset management (8.2%);
- other (0.2%).
At the end of 2023, Deutsche Bank AG managed EUR 622 billion in current deposits and EUR 473.7 billion in current loans.
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