Deutsche Bank has helped Norske Skog become the world's largest manufacturer of newsprint. It was sole financial advisor to the Norwegian company which is buying the 50% of Canadian PanAsia Paper it does not already own for $600m (€483m).

The German bank is also joint global co-ordinator and underwriter with the Nordic bank, Nordea, of a Nkr4bn (€514m) Norske Skog rights issue to help pay for the acquisition.