Deutsche Bank Ag · XETR:DBK
Deutsche Bank — Merger or Acquisition (October 2009)
12 slides from Deutsche Bank's merger presentation, Oct 28, 2009
Slide 1: Acquisition of Sal. Oppenheim
Acquisition of Sal. Oppenheim Stefan Krause Chief Financial Officer 28 October 2009
Slide 2: Summary: Strategically and financially attractive transaction
Summary: Strategically and financially attractive transaction Price / AuM 1.0% Acquisition of 100% of Sal. Oppenheim S.C.A. for EUR 1.0 bn Transaction includes Sal. Oppenheim S.C.A., BHF Asset Servicing GmbH (BAS) and Sal. Oppenheim Private Equity Partners S.A. (SOPEP) Transaction Additional p
Slide 3: Sal. Oppenheim Group
Sal Oppenheim Group Sal. Sal. Oppenheim premium wealth management proposition with unique access to UHNWI segment in Germany Experienced asset manager with two distinctive platforms Sal. Oppenheim − Sal. Oppenheim Asset Management SCA S.C.A. 7th largest mutual fund manager in Germany (Luxembourg
Slide 4: Key transaction terms
Key transaction terms Acquisition A i iti off 100% off S Sal. l OOppenheim h i SS.C.A. CA Acquisition of remaining 94.9% of BHF Asset Servicing GmbH (49% of voting rights) with the intention to resell this unit Scope of Acquisition of Sal Sal. Oppenheim Private Equity Partners S S.A. A transac
Slide 5: Sal. Oppenheim: Historical financials
Sal Oppenheim: Historical financials Sal. Revenues, in EUR m Profit Before Tax, in EUR m 1,275 333 309 1,093 283 965 770 151 474 (144) 2004 2005 2006 2007 2008 2004 2005 2006 2007 2008 Cost-income-ratio Pre-tax RoE 82% 78% 80% 92% > 100% 10% 18% 17% 17% (7)% Note: As reported by Sal. Oppenheim Inves
Slide 6: Assets under Management
Assets under Management As of 31 December 2008 Global AuM((1)) Sal Oppenheim Group Private Banking Sal. In EUR bn In EUR bn SOPEP Luxembourg Other(2) 5 5 Switzerland 2 11 BHF Sal. Austria 7 40 1 Oppenheim Sal. 16 Oppenheim BHF-Bank Asset Private Banking 47 Management 18 43 BHF-Bank Sal. Germany Oppe
Slide 7: Europe/Germany – expanding market leadership through Sal. Oppenheim
Europe/Germany – expanding market leadership through Sal Sal. Oppenheim Private banking ranking 2008 for European players by global AuM Private banking ranking 2008 for Germany Rank Players PB AuM, in EUR bn Rank Players PB AuM, in EUR bn 1 927 1 44 (2) 47 141(2) 232 2 407 2 45(3) 3 250 3 29 (2) 4 1
Slide 8: Benefits and synergies
Benefits and synergies Undisputed leadership in Private Wealth Management in Germany Complementary client profile, particularly in the UHNWI client segment Strategic Second wealth management proposition with strong brand complementing impact business portfolio at the top end of the market Ex
Slide 9: Capital impact for Deutsche Bank
Capital impact for Deutsche Bank Expected Tier 1 capital consumption per closing 1.6 3.7 Tier 1 capital consumption upon closing: EUR 3.7 bn Optionality for Deutsche Bank to 2.5 pay the purchase price with new 2.2 (1.3) Deutsche Bank shares (contribution-in-kind); use of optional contribution-in
Slide 10: Next steps – timeline
Next steps – timeline 28 October 2009 Signing of framework agreement 4Q2009 Finalisation and signing of various execution agreements 4Q2009 Regulatory and anti-trust filings 1Q2010 Closing Subsequently Kick-off integration process Investor Relations 10/09 · page 10
Slide 11: Summary: Strategically and financially attractive transaction
Summary: Strategically and financially attractive transaction Price / AuM 1.0% Acquisition of 100% of Sal. Oppenheim S.C.A. for EUR 1.0 bn Transaction includes Sal. Oppenheim S.C.A., BHF Asset Servicing GmbH (BAS) and Sal. Oppenheim Private Equity Partners S.A. (SOPEP) Transaction Additional p
Slide 12: Cautionary statements
Cautionary statements Unless otherwise indicated, the financial information provided herein has been prepared under International Financial p g Standards ((IFRS). Reporting ) This presentation contains forward-looking statements. Forward-looking statements are statements that are not historical fact