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Deutsche Bank Reportedly Sells $50 Bln Assets To Goldman Sachs

German banking major Deutsche Bank AG (DB) has sold unwanted assets worth $50 billion to Goldman Sachs (GS) as part of its restructuring, reports said citing people with knowledge of the matter.

The divested assets were related to a portfolio of emerging market debt derivatives.

The German bank is offloading business areas as part of a major overhaul. In July, the company announced as many as 18,000 job cuts under the restructuring.

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