has emerged as a bidder for the joint commodities-trading business of
Royal Bank of Scotland
, a report says.
The deal could be worth about $3 billion, according to bankers, the
The latest round of bids is believed to have been submitted this week, the newspaper reports. Other banks who have shown an interest in the business include
The deal would provide Deutsche Bank with a further expansion into commodities as part of a buildout of its investment banking operations, the
notes. For RBS, a sale of its 515 stake in the venture would mark the first of the bank's asset sales ordered by the European Commission under the terms of the bank receiving state aid.
One person close to the matter said Deutsche Bank was talking to both RBS and Sempra, the
-- Reported by Joseph Woelfel in New York.
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