Deutsche Bank AG has received at least two nonbinding offers for its BHF-Bank AG subsidiary, several people close to the matter said Tuesday.
The Liechtenstein bank LGT Group and the private-equity firm Permira submitted offers by the deadline Monday, these people said.
A deadline for a first round of nonbinding offers for BHF passed Monday, and Deutsche Bank was satisfied with the quality and number of bids, another person said. BHF's book value is estimated to be about $769 million.
It was'nt immediately clear whether Permira made an offer on its own or together with a strategic partner, which has been speculated on by news reports. It also wasn't clear whether other potential buyers placed bids on time. Recent reports identified the French bank BNP Paribas, the Swiss banks Julius Baer Group AG, UBS AG and Vontobel Holding AG, and Kohlberg Kravis Roberts & Co. and Apollo Management LP among possible bidders.
