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Report: Japan's Nippon Life in talks to buy stake in Deutsche Bank's DWS unit

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Report: Japan's Nippon Life in talks to buy stake in Deutsche Bank's DWS unit

Japan's Nippon Life Insurance Co. is interested in acquiring a stake in Deutsche Bank AG's asset management arm by purchasing shares in the latter's planned IPO, Reuters reported March 7, citing "two people close to the matter."

The Japanese insurer is in talks with the German bank and could buy a more than 3% stake in the asset manager, the sources told the publication, adding that the insurer is yet to make a decision. The report came after German daily Frankfurter Allgemeine Zeitung reported that Nippon Life plans to buy a roughly 10% stake in DWS.

Nippon Life and Deutsche Bank declined to comment on the matter, Reuters said.

Earlier on March 6, Reuters reported that U.S-giant BlackRock Inc., billionaire investor George Soros and major sovereign wealth funds are interested in investing in the IPO of DWS. The bank could set a price range for the IPO as early as March 11, file the prospectus the next day and launch the IPO in the week of March 19, the publication noted.

Under the proposed IPO, the German bank plans to list DWS shares on the Frankfurt stock exchange.