The agreement between Deutsche Bank and Xchanging regarding the purchase of the remaining 51 percent of the shares in the joint venture was signed in May 2013. As the required approvals, for example, from the regulatory authorities and shareholders of Xchanging, have been obtained in the meantime, the announced change of control to Deutsche Bank AG became effective on September 1, 2013.
The acquired entity has been renamed DB Investment Services GmbH and will be integrated into Deutsche Bank’s infrastructure operations.
In recent news, Deutsche Bank was set to launch paperless cross-border payment services in China via its electronic banking platform db-direct internet.
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