November 4, 2018 / 12:20 PM / a month ago

Deutsche's DWS in deal to buy stake in Dubai-based firm -statement

DUBAI, Nov 4 (Reuters) - DWS Group, Deutsche Bank’s asset manager, has entered into a binding agreement to acquire an equity stake of 15 percent in Dubai-based Neo Technologies, the companies said on Sunday.

Under the deal, DWS and Neo Technologies will form a partnership to collaborate on the development and expansion of digital asset management services in the region, they said.

The value of the transaction was not disclosed. (Reporting by Davide Barbuscia; Writing by Tom Arnold)

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