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Deutsche's DWS in deal to buy stake in Dubai-based firm -statement


© Reuters. FILE PHOTO: Logo of Deutsche Bank’s asset management unit DWS is pictured at the Frankfurt Stock Exchange

DUBAI (Reuters) – DWS Group (DE:), Deutsche Bank’s (DE:) asset manager, has entered into a binding agreement to acquire an equity stake of 15 percent in Dubai-based Neo Technologies, the companies said on Sunday.

Under the deal, DWS and Neo Technologies will form a partnership to collaborate on the development and expansion of digital asset management services in the region, they said.

The value of the transaction was not disclosed.

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