Finance
Deutsche Bank to Buy Numis in Surprise City of London Deal
- German lender to pay ÂŁ410 million, or 350 pence a share
- Deal to help accelerate Deutsche Bank’s growth in UK
Deutsche Bank AG agreed to buy Numis Corp., one of the best-known UK boutiques, in an all-cash deal that could reshape the landscape of investment banking in the City of London.
The German lender’s purchase will value Numis at about £410 million ($512 million), a 72% premium to Thursday’s close. The deal will take Deutsche Bank from a few dozen bankers focused on UK offerings to one of the biggest teams in the City.