Deutsche’s RREEF exits DEXUS
Deutsche Bank has announced that it has sold its 50 per cent interest in the management company of DEXUS Property Group, formerly known as DB RREEF Group, to DEXUS unit holders
Deutsche chief executive in Australia Chum Darvall said the move represented a positive step that would allow both organisations to pursue independent and more aggressive growth strategies.
He said RREEF Alternative Investments would continue its expansion strategy in Australia through organic growth, selective acquisitions and an ongoing strategic relationship with DEXUS Property Group.
RREEF Asia Pacific chief executive Kurt Roeloffs said the change to the DEXUS name resolved any brand confusion that existed between the two organisations.
He said DEXUS remained a key client of both Deutsche Bank in Australia and RREEF across the globe.
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