(Picture source: newsroom.cisco.com)

Deutsche Bank is planning to sell its subsidiary BHF.

The Deutsche Bank (German bank) wants to sell its subsidiary company BHF (private bank). However, general interest in acquiring the BHF is lower than expected. The reason is that potential buyers like Düsseldorfer-HSBC-Trinkaus & Burkhardt or the Swiss private banks Vontobel and Julius Bär are only interested in the wealth management division. But Deutsche Bank wants to sell the bank in bulk. The period in which concrete purchase offers could be handed in ended today, but the potential buyers were reportedly unwilling to make concrete proposals so far. The Deutsche Bank had acquired the Sal Oppenheim together with its subsidiary BHF in February 2010. The bank is now interested in a purchase price in the range of 600-650 million euros, the same price Sal Oppenheim paid in late 2004 to the Dutch ING Group. Deutsche Bank is aiming to sell the subsidiary company by the end of this year.