Deutsche Bank considering M&A
Cracking the Vault: Your daily roundup on all things finance
Cracking the Vault is your daily news roundup with a focus on Switzerland and Germany.
Let’s jump in!
Porsche China sales down 15%; Deutsche Bank considering M&A options; Gail Kelly appointed UBS board member; PE Amboise Partners open Swiss office; Aloys Hirzel turns entrepreneur at 74; shippers turn to air freight to bypass Red Sea; and Vienna’s solution to keeping families in the city.
Headline recap
Porsche sales in China down 15% due to economic weakness (WiWo)
Deutsche Bank analyzing deals with Commerzbank, ABN Amro, others (BBG)
Appointment of Australian Gail Kelly to UBS Board of Directors raising questions (HZ)
DAX companies replaced auditors as required by law - losers are EY and KPMG, PwC and Deloitte increase market share (HB)
Public prosecutor's office investigates insolvent Munich real estate manager Omega (HB)
Private equity firm Amboise Partners opens first Swiss branch (Citywire)
Aloys Hirzel, Switzerland's best-known and perhaps most influential PR consultant, turning entrepreneur at 74 (HZ)
Lex Benter appointed new chairman of battery manufacturer Leclanché (FuW)
German M&A outlook clouded by growing economic challenges (Reuters)
Red Sea attacks cause supply bottlenecks in Germany (HB)
Shippers like Kühne & Nagel turn to air freight to alleviate Red Sea crisis (FT)
Vienna’s co-housing model offers a key to keeping families in the city (FT)
Transaction update
Dutch government to finance TenneT while sale of German business is delayed (Reuters)
Eberspächer, a German automotive supplier, selling brand-new plant to Austrian GG Group due to weakening e-mobility (WiWo)
Fundraisings & Startups
Kickfund Ventures Fund I, a fund focused on Swiss deep-tech startups, raised CHF70m (Moneycab)
Sparrow Analytics meeting growing demand for environmental data (Startup Ticker)
Swiss startup Sirius unveils hydrogen-powered VTOL business jet (Future Flight)
Podcast picks
Drones, Data, and Deterrence: Technology's Role in Public Safety (a16z Podcast)
Dr. Selwyn Vickers about expanding cancer care and becoming a great surgeon (The David Rubenstein Show)
Have a great weekend!