Cleary and Freshfields take lead on €9.8bn Deutsche Bank deal

September 17, 2010 Deutsche Bank has called upon Cleary Gottlieb Steen & Hamilton to advise on its project of raising €9.8 billion to bolster the balance sheet and complete the proposed takeover of Deutsche Postbank. The bank plans to achieve its goal by offering subscription rights to Deutsche Bank's existing shareholders.

The Cleary team is headed by Frankfurt-based capital markets partner Ward Greenberg and securities partner Hanno Sperlich.

Deutsche Postbank has retained Freshfields Bruckhaus Deringer for advice on the transaction, and the firm has put forward a team led by Frankfurt-based partner Matthias-Gabriel Kremer.

Deutsche Bank’s in-house team is led by counsel Andreas Meyer.

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