August 24, 2018 / 12:46 PM / 3 months ago

Munich Re talks with Guggenheim end without deal: Bloomberg

FILE PHOTO The company logo of German reinsurer Munich Re is seen before the company's annual news conference in Munich, Germany, March 16, 2016. REUTERS/Michaela Rehle/File Photo

FRANKFURT (Reuters) - Talks between U.S. fund manager Guggenheim Partners and Munich Re (MUVGn.DE) have concluded without a deal, Bloomberg News reported on Friday.

The negotiations focused on the sale of a stake in Guggenheim to the German reinsurer, Bloomberg reported, citing unnamed people briefed on the matter.

Discussions also involved Guggenheim overseeing the management of some assets for Munich Re, Bloomberg said.

Munich Re declined to comment. Guggenheim’s U.S. headquarters wasn’t immediately available for comment outside of business hours.

Munich Re has wanted to strengthen its asset management unit, perhaps through cooperating with partners, the company’s chief has said.

Reporting by Alexander Huebner; Additional reporting by Simon Jessop in London; Writing by Tom Sims and Edmund Blair

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