...April 29, 2024 LONDON (S&P Global Ratings) April 29, 2024--S&P Global Ratings said today that Deutsche Bank AG (A/Stable/A-1) has sufficient capital flexibility to absorb the 1.3 billion litigation provision it has announced, although it will affect second-quarter earnings. The provision, which relates to long-standing claims that Deutsche Bank should have offered a higher price when it announced a voluntary takeover offer for the acquisition of all shares in Deutsche Postbank AG in 2010, were larger than we had expected. The 1.3 billion provision charge represents the total value of all claims and does not assume a settlement will be reached. The court previously found in Deutsche Bank's favor in the case, but that judgement was set aside on appeal. On April 26, 2024, the court announced an initial assessment that supported the claimants' position. It intends to make a final decision in August 2024 and suggested that the parties enter settlement negotiations. Although the provision charge...
