Deutsche Bank pulls sale of Mexico unit to local bank
Deutsche Bank (DBKGn.DE) said on Sunday it planned to terminate an agreement to sell its Mexican assets to local bank Accendo Banco, without giving further details.
“We will continue to keep the best interests of our employees and clients in mind as we consider alternative options,” the bank said in a statement.
Accendo said in a statement that it did not agree with the plan to suspend the deal and that it was still analyzing it.
Accendo announced the deal in late 2016 but was forced to put it on hold after a shareholder was arrested in the United States on charges of laundering more than $100 million.
Mexico’s banking regulator last year cleared the bank of wrongdoing in connection with the U.S. charges, allowing the acquisition to continue, although it imposed $1.3 million in fines on the bank for lesser violations.
Reporting by Noe Torres; Editing by Cynthia Osterman