Deutsche Bank Interested In Fortis Admin. Unit

Sep 21 2009 | 11:37am ET

Deutsche Bank may not be interest in what ABN Amro is selling, but it certainly might be interested in what fellow Dutch bank Fortis Bank Nederland is putting on the block.

The German bank is interested in buying Fortis’ administration unit, Reuters reports. Deutsche Bank is hoping to become a major player in the hedge fund services business, while Fortis may seek to sell Fortis Prime Fund Solutions to appease the European regulators considering its plans to merge with ABN.

“Deutsche is definitely the front-running for FPFS and could probably get it for a very good price,” a source told Reuters.

The Fortis administation unit manages some US$200 billion.

News of Deutsche Bank’s interest in FPFS comes just a day after the bank pulled out of its deal to buy some of the assets of ABN, which was nationalized last year.

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