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Deutsche Bank agrees to settle legal dispute with German retail heiress
December 14, 2016 / 5:55 PM / 9 months ago

Deutsche Bank agrees to settle legal dispute with German retail heiress

FRANKFURT, Dec 14 (Reuters) - Deutsche Bank and German retail heiress Madeleine Schickedanz have agreed to settle a legal dispute, Germany’s flagship carrier said on Wednesday.

“If the conditions set out by the agreement are fulfilled, then the legal dispute can be ended amicably, completely and for good,” a spokesman for Deutsche Bank said in an e-mailed statement, declining to provide details of the settlement.

Schickedanz had sought 1.9 billion euros ($2 billion) in a damages suit that involved bank Sal. Oppenheim, which is now part of Deutsche Bank.

A person familiar with the matter told Reuters on Wednesday that the settlement with Deutsche Bank was worth less than 100 million euros.

$1 = 0.9385 euros Reporting by Arno Schuetze; Writing by Maria Sheahan; Editing by Maria Sheahan and Christoph Steitz

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