Deutsche Bank has sold $50 billion in unwanted assets to Goldman Sachs as part o...
The assets, related to emerging-market debt, were part of Deutsche’s unit to wind down unwanted securities, the people said, confirming a development first reported by Bloomberg.
The unit contained 177 billion euros in leverage exposure at the end of the third quarter. The bank aims to reduce that to 119 billion euros by the end of this year. Goldman purchased the debt at a deep discount and believes it can make a modest profit on the deal, according to a fourth person familiar with the matter. The book likely includes derivatives, as well as emerging-market debt, the person added.
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