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Deutsche Bank AG (London Branch) (DEE) Wrap Up:
Deutsche Bank AG London offers investment banking and underwriting services. The bank is based in London, United Kingdom. Deutsche Bank operates as a subsidiary of Deutsche Bank AG.Deutsche Bank AG (London Branch) (DEE:NYSE Arca)
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Key developments for Deutsche Bank AG (London Branch) (DEE)
The Directors of the Auriel Funds PLC announced the appointment of Deutsche Bank AG (London) of in place of Lehman Brothers Inc., as prime broker to the company with effect from September 30, 2008 pursuant to an agreement between the Prime Broker and Auriel Capital Management LLP (the 'Investment Manager'). The Prime Broker has financial resources in excess of $200 million (or its equivalent in another currency). The prime broker is regulated by the Financial Services Authority in the United Kingdom. All terms and conditions previously agreed remain unchanged.
Electricité de France (EDF Group) announced that it is initiating a process to evaluate ownership options for its electricity distribution business in the United Kingdom. This is in line with EDF Group’s intention to reduce its net financial debt by at least €5 billion by the end of 2010. The evaluation process logically follows the acquisition of British Energy announced in 2008 which has resulted in a better balance between EDF Energy’s generation and supply businesses. Pierre Gadonneix, EDF Chairman and CEO said: “The process to evaluate ownership options for our UK electricity distribution networks is part of the announced asset divestment program, aiming to reduce our net financial debt by at least €5 billion. It is also part of our development strategy in the United Kingdom, which is a key market in Europe for the Group. This process follows British Energy’s acquisition which facilitates EDF’s plans to develop new nuclear power in the UK and significantly strengthens our position as a UK energy player.” Vincent de Rivaz, EDF Energy CEO said: “As a responsible company, EDF Energy will continue the dialogue with its employees and other key stakeholders throughout this evaluation process. This unique combination of three regulated networks covers a key region vital to the UK economy. It has a highly experienced and skilled workforce which has a strong track record of delivery and is well placed for growth.” EDF Group’s financial advisors are Barclays Capital and Deutsche Bank AG London. Additional support will be provided by BNP Paribas. EDF plan to sell its U.K. power distribution business for more than €4 billion. Chief Financial Officer of the company, Daniel Camus said that the sale may take place in the first quarter and it is not in “advanced” talks with any buyers. He said: “The network is of good quality and we will get a lot of interest. We regularly get spontaneous shows of interest but nothing formal. The formal process starts today.” EDF shares fell as much as 2.2% and traded down 85 cents.
Four Seasons Health Care Group Limited has appointed Deutsche Bank AG (London) to its advisory team. Deutsche Bank AG will assist the Group to explore options for resolving its capital structure situation, including amongst others, capital market solutions that could support the Group's restructuring proposal and the prospects for a sale process. All options will be considered alongside the continuing negotiations with the Group's lenders, which the Group has been seeking to progress towards a consensual restructuring of the debt. The Group has been encouraged that the restructuring proposal which it presented in January, seeking to balance fairly the interests of its lenders, continues to attract widespread significant support. A consensual restructuring of its debt that delivers a robust capital structure remains the Group's preferred solution. However, it is now appropriate to explore and develop alternative strategic options, including a sale of the Group, in the event that agreement on a consensual restructuring cannot be reached. It is in the interests of all stakeholders, especially the lenders, to preserve the underlying value of the business and the Group is confident that a solution can be agreed which does not impact its day to day operations. There is no prospect that its homes would be closed or that residents would be forced to move. That would not happen in any circumstances that could reasonably be envisaged.
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DEE transactions
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Merger/Acquisition
November 4, 2009 |
I2 Technologies, Inc. |
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Private Placement
September 30, 2009 |
National Australia Bank Limited |
More Recent News About Deutsche Bank AG (London Branch)
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Leveraged Commodity, Currency ETFs Launch
The company launched ETFs on Nov. 25 that provide leveraged (200%) and inverse (-200%) exposure to a broad-based commodity index, crude oil, and the Euro and Yen currencies. Gold and silver ETFs using the same approach will debut in a few weeks. The new ETFs should heat up competition for assets in the alternative asset space. ProFunds claims these are the first leverage and inverse ETFs in commodities and currencies. Deutsche Bank and PowerShares, however, have a series of exchange-traded notes (ETNs) that offer 2x leveraged and inverse exposure to gold, the U.S. dollar, crude oil, commodities, agriculture and base metals; similarly, Van Eck offers ETNs that provide 200% and -200% exposures to the Euro.Still, many people prefer the ETF structure compared to ETNs, and the ProShares name will be sure to attract attention.The new ProShares ETFs are: Next week, ProShares will launch: The question for investors is should they really be playing with leverage in the volatile ETF market? Oil prices are down 45% over the past few months, and most broad-based commodity indexes are down nearly as much. It's not hard to imagine what would have happened to a fund that was levered 2-to-1 against the price of commodities in recent days.In fact, you don't have to imagine. The PowerShares DB Double Long Commodity Index ETN (NYSEArca: DYY) tracks the broad-based DB Commodity Index; the fund was down 68.92% in the past three months through Nov. 24, according to Morningstar. �The inverse version of the fund, the PowerShares DB DoubleShort Commodity Index ETN (NYSEArca:DEE - ...Click here to read the whole Article (external link)
Newly Rated ETFs Buy Money, Commodities
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