Starting news article english 17 May 2013

Clifford Chance advised Xchanging on the sale of its shares in Xetb to Deutsche Bank

Clifford Chance advised the Xchanging Group in connection with the restructuring of its German bank holdings and the sale of 51% of its shares in the joint venture "Xetb" to Deutsche Bank for a purchase price of EUR 40.5 million.

Xetb is the holding company of Xchanging Transaction Bank GmbH (XTB) that provides services in relation to the securities processing business for Deutsche Bank as well as for external clients.

The transaction is subject to clearance by the regulatory authorities and the Xchanging shareholders. After closing, Deutsche Bank will have full ownership and operating control over XTB.

The Clifford Chance team was led by partner Bernd Meyer-Witting and included counsel Susanne Decker, associates Dr. Christian Nordholtz, Florian Lechner and Laurent Müller (all Corporate/M&A), counsel Jörg Futter (Corporate), partner Gerhard Dreyer and associate Elisabeth Modzel (both Tax), as well as counsel Albrecht von Graevenitz (Corporate/Antitrust) – all Frankfurt – and a team from our London office led by partner Kathy Honeywood that included senior associate Graham Harrison (both Corporate).