Deutsche in Talks to Acquire Scudder

September 13, 2001( - Zurich Financial Services Group and Deutsche Bank AG have confirmed they are in talks for Deutsche to acquire Zurich Scudder Investments.

Deutsche Bank is attempting to acquire the Zurich asset manager, Zurich Scudder Investments. Threadneedle, the UK asset manager, which is closely integrated with Zurich’s UK distribution network, would remain a part of the Zurich Group.

At the same time, Zurich may acquire the Deutscher Herold and further insurance subsidiaries of Deutsche Bank in Europe.

An integral part of the negotiations is a cooperation and distribution agreement between the two companies in the fields of insurance, asset management, and banking.

Both companies will make no further statement until the negotiations have been concluded, officials said.