Deutsche Bank To Revive Effort To Sell BHF To RHJ

Deutsche Bank AG (DBK.XE) plans to resume efforts to sell its private bank BHF to private equity firm RHJ International, Financial Times Deutschland reports Thursday.

The German bank wants to support RHJ in filing an initial application to BaFin, Germany's Financial Supervisory Authority, the newspaper says, without naming sources. If the regulatory authority approves the deal, the sale of BHF could be completed in the coming weeks, the newspaper adds.

Deutsche Bank and RHJ were in exclusive talks in July 2011 about a sale for around EUR500 million, the paper says. But the deal failed due to BaFin's concerns that BHF could face future refinancing problems without Deutsche Bank. RHJ struggled to find financially strong co-investors at the time, but asset management firm Blackrock Inc. (BLK) is now planning to invest, the newspaper reports.

RHJ and Blackrock declined to comment to the newspaper.

Asked by Dow Jones Newswires, a Deutsche Bank spokesman referred to the bank's previous statements that it was working on the sale of BHF. He declined to provide further details.

Newspaper website: www.ftd.de

-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500

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