Deutsche Bank has agreed to sell its 20-percent stake in China's Hua Xia Bank to PICC Property and Casualty Co. for over 3.3 billion US dollars.
Germany's biggest lender says the completion of the transaction will be subject to customary closing conditions and regulatory approvals.
Deutsche Bank says it is looking forward to working with PICC on the transition of its investment here in China.
The bank says the sale will boost its capital ratio.
Source:
http://english.cri.cn/12394/2015/12/29/4081s910505.htm
