Deutsche to shed Gerling

By Herbert Fromme, Munich

GERMANY’S Deutsche Bank, which owns 34.5% of insurer Gerling, is close to getting rid of its stake this week. This would mean majority owner Rolf Gerling again owning 100%. Deutsche Bank would give up its stake without getting any money for it, but would also no longer carry any risks. Deutsche Bank last week announced it has written down its stake in Gerling to zero.