Deutsche Post has sold a 29.75% stake in its banking arm Deutsche Postbank to Deutsche Bank for 2.79bn euros ($3.9bn; Ј2.2bn).
Worth 57.25 euros a share German banking sector nears second big deal ...
Deutsche Post Triumphs in Billion-Euro Brussels Row ... - the offer is at a premium to Postbank's current share price, which was trading at around 46.8bn euros earlier.
Shares in Postbank sank almost 5% after the announcement, while shares in Deutsche Post climbed more than 3%.
The deal ends weeks of speculation about the future of Postbank.
There had been reports that Spain's Santander was interested in making a bid.
It is thought Deutsche Bank did not have the cash to make an offer for all of Deutsche Post's sharess in Postbank.
As part of the deal, the firm - Germany biggest lender by assets - has secured the option to buy an additional 18% of Postbank for 55 euros at a later date.
It said it will need to raise 2bn euros through a share placing to fund the initial acquisition.
(BBC)
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