Exclusive: Deutsche Bank talks with buyers for its uranium business

Deutsche Bank AG (DBK.DE) is holding preliminary talks with potential buyers of its uranium trading business – the first sign since announcing it was largely exiting commodities trading that parts of the operation are now on the block. The bank’s uranium desk is one of the biggest third-party traders in the market, and holds substantial stockpiles of low-grade uranium, known as yellowcake, and numerous long-term deals with nuclear power plants. The bank has had a number of expressions of interest in its uranium business, and expects to start a formal sales process early in the first quarter, sources familiar with the discussions said. Deutsche Bank announced it was shuttering its global commodities trading business on December 5, cutting 200 jobs in the face of toughening regulations and lower profits.


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