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Deutsche Bank and Sal Oppenheim unveil deal

Germany's Deutsche Bank today said it would acquire Sal Oppenheim and subsidiaries of the private bank in a deal the companies valued at about €1.3bn ($1.92bn).

The deal aligns Deutsche Bank with one of Germany's strongest private banking brands as it attempts to boost its own distressed wealth management business, which reported a 36% decline in second quarter net revenue.

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