The discussion came to an end, when the Deutsche Bank refused to provide guarantee of the revenues of the units. Consequently, Guggenheim reduced the price it would pay for units.
As of the end of March 2012, RREEF had $63bn of assets under management, while Guggenheim had $125bn of assets under management.
Deutsche Bank found it difficult to manage its four assets management units, and wanted to dispose the business as a whole for about $2bn.
With the disposal of its underperforming wealth management units, Deutsche Bank plans to raise capital level for its core operations, ahead of the introduction of Basel III rules.
