March 7, 2018 / 8:28 AM / 10 months ago

Nippon Life mulls investing in Deutsche Bank's DWS unit: sources

FILE PHOTO - A man is reflected on a window of a branch of Japanese life insurer Nippon Life Insurance Company, also known as Nissay, in Tokyo July 20, 2009. REUTERS/Stringer/File Photo

FRANKFURT/TOKYO (Reuters) - Japanese insurer Nippon Life is in talks with Deutsche Bank (DBKGn.DE) about buying shares in the initial public offering of the German lender’s DWS unit, two people close to the matter said.

Nippon Life may become an anchor investor of Deutsche’s asset management arm, possibly with a stake above 3 percent, the sources said, adding that no decisions have been taken yet.

Nippon Life and Deutsche Bank declined to comment.

Earlier, German daily Frankfurter Allgemeine Zeitung had reported that Nippon Life plans to buy a roughly 10 percent DWS stake.

Separately, BlackRock, George Soros and big sovereign wealth funds are among investors expressing interest in buying DWS shares, a person familiar with the matter said on Tuesday.

Reporting by Arno Schuetze and Taiga Uranaka; Editing by Ludwig Burger

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